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Bam! Board Corporation is a company that manufactures and sells bodyboards. On 1/1/23, the company...

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Accounting

Bam! Board Corporation is a company that manufactures and sells bodyboards. On 1/1/23, the company purchases a piece of manufacturing equipment for $2,200,000 cash. The expected residual value is $400,000 and the useful life is 4 years.

Assume that Bam! Board Corporation uses the Double-Declining Balance method of depreciation. PLEASE SHOW THE FORMULA IN EXCEL

2023 2024 2025 2026
Depreciation Expense for the year
Accumulated Depreciation at year-end
Net PP&E on year-end Balance Sheet

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