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On January 1, 2017, Kingslover Ltd. bought machinery for $ 750,000. They used straight-line depreciation for this machinery, over an estimated useful life of ten years, with no residual value. At the beginning of 2020, Detroit decided the estimated useful life of this machinery was only eight years (from the date of acquisition), still with no residual value.
Problem 1: For calendar 2020, the depreciation expense for this machinery is?
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