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A building acquired at the beginning of the year at a cost of $120,000 has...

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Accounting

A building acquired at the beginning of the year at a cost of $120,000 has an estimated residual value of $4,800 and an estimated useful life of four years. Determine the following.

a. The double-declining-balance rate fill in the blank 1 %
b. The double-declining-balance depreciation for the first year $fill in the blank 2

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