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Explore Incorporated is a new start-up specializing in renting camper vans. On January...

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Accounting

Explore Incorporated is a new start-up specializing in renting camper vans. On January 1, Year 1, the company purchased a new camper van with a total cost of $82,400. The company estimates that the van will have a 10-year useful life and a salvalue of $10,100. The company has elected to depreciate the van using the double-declining-balance method.
Required:
a. Determine the amount of depreciation expense to be recognized on the van at the end of Year 1?
b. Determine the amount of accumulated depreciation at the end of Year 2.
a. Depreciation at the end of Year 1
b. Accumulated depreciation
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