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What is depreciation expense for second year of asset life

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Question - Cathy Company purchased equipment that was installed and placed in service on January 1, Year 1 at a cost of $500,000. Salvage value was estimated at $80,000. The equipment is being depreciated over ten years by the double-declining-balance method. What is depreciation expense for the second year of the asset's life?

Reference no: EM133155774

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