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How much depreciation will they record in year one

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1. A firm paid $370,000 for a machine with a useful life of 10 years, at which point they expect to sell it for $100,000. Assuming they use time as their allocation basis and use double-declining balance depreciation, how much depreciation will they record in Year 1? After you provide your answer, add a note about how you found it.

2. How much is the depreciation for Year 2? After you provide your answer, add a note about how you found it.

Reference no: EM132543275

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