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On January 1, 2013, ABC Corporation acquired machinery at a cost of $600,000. ABC adopted...

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Accounting

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On January 1, 2013, ABC Corporation acquired machinery at a cost of $600,000. ABC adopted the straight-line method of depreciation for this machine and had been recording depreciation over an estimated life of ten years, with no residual value. At the beginning of 2016, a decision was made to change to the double-declining balance method of depreciation for this machine Question 4) The amount that ABC should record as depreciation expense for 2016 is: $60,000 11. 584,000. 1. $120,000 IV. none of the above

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