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Hi, Can you please help with the following? Assume that MHS purchased equipment for $600,000...

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Accounting

Hi,

Can you please help with the following?

Assume that MHS purchased equipment for $600,000 cash on April 1 (the first day of its fiscal year). This equipment has an expected life of 10 years. The salvage value is 10 % of the cost. No equipment was traded in on this purchase.

Compute the straight-line depreciation for this purchase. [Page 91]

Compute the double-declining balance depreciation for this purchase. [Page 95]

This is taken from textbook: Health Care Finance 5th Edition

Thank you

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