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What would be the amount of depreciation expense charged

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Reference no: EM132920511

Problem 1: A company acquired a new piece of machinery on 1 July 2019 for $36,000. It is estimated that the machine will have a useful life of 6 years. The machine will have no salvage value and will be depreciated to a residual value of zero. Assume that the business uses the accelerated depreciation method (also known as the reducing-balance method) at a rate of 30%. What would be the amount of depreciation expense charged for the year ended 30 June 2021?

Select one:

a. $6,300
b. $1,800
c. $9,820
d. $7,560

Reference no: EM132920511

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