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What is the correct book value for the machine

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Reference no: EM132467704

Problem - A business purchased a machine for $7500,000. The expected life of the machine is 5 years and straight line depreciation rate is 20%. The machine is expected to have a residual value of $10,000.

Required - Using the double-declining balance method of depreciation, what is the correct book value for the machine at the end of the first year?

A. $590,000

B. $450,000

C. $440,000

D. $602,000

Reference no: EM132467704

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