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Develop a table for the annual depreciation

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Question - Crescent Textile Company has purchased a new generator whose market price is $15,000 but after a (10) lot of negotiations the sellers agreed to offer it at $11,000 cash and a trade-in of company's old generator whose book value is $2,000. An additional $1,500 were spent on transportation and installation of the generator at site. The expected useful life of the generator is 8 years, after which the salvage value is estimated to be $800. Develop a table for the annual depreciation of the generator for each year of its life if company follows 200% declining balance method with switch over to the straight-line method.

Reference no: EM132635791

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