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What amount must be recognized as depreciation expense

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Problem 1: Maggi Corporation owns a machine that was bought on January 1, 2017, for $752,000. The machine was depreciated under the sum of the years' digits method using estimated useful life of 5 years and salvage value of $48,000. At the beginning of 2020, Maggi Corporation determined that the useful life of the machine should have been 4 years and the salvage value $70,400. What amount must be recognized as depreciation expense for the year 2020?

Reference no: EM132888856

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