Depreciation Methods A machine costing $145,800 was purchased May 1. The machine should be obsolete...
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Accounting
Depreciation Methods A machine costing $145,800 was purchased May 1. The machine should be obsolete after three years and, therefore, no longer useful to the company. The estimated salvage value is $5,400. Calculate the depreciation expense for each year of its expected useful life using each of the following depreciation methods: (a) straight-line, (b) double-declining balance. For double-declining balance, do not round until your final answer. Round your final answers to the nearest dollar.
a. Straight-line:
Year 1: $Answer
Year 2: Answer
Year 3: Answer
Year 4: Answer
b. Double-declining balance:
Year 1: $Answer
Year 2: Answer
Year 3: Answer
Year 4: Answer
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