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Blossom Company purchased a new machine on October 1, 2022, at a cost of $90,640....

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Accounting

Blossom Company purchased a new machine on October 1, 2022, at a cost of $90,640. The company estimated that the machine has a salvage value of $9,360. The machine is expected to be used for 70,500 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end

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