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Find what amount of depreciation will hanley record

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Reference no: EM132812434

Problem 1: Hanley Manufacturing purchased a new machine on January 1, 19X4, for $47,000 plus $8,000 of freight and installation costs. Hanley uses the double declining method of recording depreciation, and estimates the machine will last 10 years and have a residual value of $5,000. What amount of depreciation will Hanley record in 19X5?

a. $6,720.
b. $8,800.
c. $7,520.
d. $8,000.

Reference no: EM132812434

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