A machine costing $500,000 with an 8-year life and $5,000 residual value was purchased on...
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A machine costing $500,000 with an 8-year life and $5,000 residual value was purchased on January 2. A) What will be the depreciation expense for the machine in Year 4 (rounded to two decimal places) using the double declining balance method? B) What would be the total accumulated depreciation using the double declining balance method in Year 4 (rounded to two decimal places)? C) What would be the total accumulated depreciation in Year 4 if the straight-line method was used
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