Grove Co. purchased machinery on September 19, 2015, for $190,000. Residual value was estimated to...
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Grove Co. purchased machinery on September 19, 2015, for $190,000. Residual value was estimated to be $10,000. The machinery will be depreciated over eight years using the sum-of-the-years'-digits method. Depreciation is computed on the basis of the nearest full month, and its financial year ends December 31. Grove should record depreciation expense for 2016 on this machinery of $
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