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On August 3, Cinco Construction purchased special-purpose equipment at a cost of $4,873,100. the useful...

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Accounting

On August 3, Cinco Construction purchased special-purpose equipment at a cost of $4,873,100. the useful life of the equipmant was estimated to be eight years, with an estimated residual value of $87,700.

B. Compute the deprecation expense to be recognized each calender year for financial reporting purposes under the 200 percent declining-balance method (half-year convention) with a switch to straight-line when it will maximize deprecation expense.

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