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PART III(20 POINTS) Klayton Corporation purchased factory equipment that was installed and put into service...

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Accounting

PART III(20 POINTS) Klayton Corporation purchased factory equipment that was installed and put into service January 2, 2017, at a total cost of $150,000. Salvage value was estimated at $10,000. The equipment is being depreciated over four years using the double-declining balance method.

Required: 1. Compute depreciation expense for 2017.

2. Compute depreciation expense for 2018.

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