A property has an initial value of $50,000, service life of 20 years and a...
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Accounting
A property has an initial value of $50,000, service life of 20 years and a final salvage value of $4000. It has been proposed to depreciate the property by the text-book declining balance method. Would this method be acceptable for income-tax purposes if the income-tax laws do not permit annual depreciation rates greater than twice the minimum annual rate with the straight-line method?
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