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Mideast Airlines purchased a 777 aircraft on January 1, 2020 at a cost of $...

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Accounting

Mideast Airlines purchased a 777 aircraft on January 1, 2020 at a cost of $ 40,000,000. The estimated useful life of the aircraft is 20 years, with an estimated salvage value of $ 6,000,000. Compute the accumulated depreciation and book value at December 31, 2022 using the straight-line method and the double-declining-balance method.

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