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For each of the following fixed assets, determine the depreciation expense for Year 3: Disposal...

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Accounting

For each of the following fixed assets, determine the depreciation expense for Year 3: Disposal date is N/A if asset is still in use. Method: SL = straight line; DDB = double declining balance Assume the estimated life is 5 years for each asset. Item Cost Residual Value Purchase Date Disposal date Depr. Method Depr. Expense Year 3 A $40,000 $4,000 July 1,Year 3 N/A SL B $50,000 $5,000 Jan. 1, Year 1 Aug. 31,Year 3 SL C $60,000 $2,000 Oc.t 1, Year 3 N/A DDB D $80,000 $10,000 Jan. 1, Year 2 April 1, Year 3 DDB

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