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Albany Corporation purchased equipment on April 1 of Year 1 for $75,000. The asset does...

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Accounting

Albany Corporation purchased equipment on April 1 of Year 1 for $75,000. The asset does not have a residual value, and is estimated to be in service for 8 years. Calculate the depreciation for Year 1 using the double-declining-balance method. Round to the nearest dollar. Calculate the depreciation for Year 2 using the double-declining-balance method. Round to the nearest dollar.

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