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Question 1 Concord Company purchased machinery on January 1, 2025, for $84,000. The machinery is...

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Accounting

Question 1

Concord Company purchased machinery on January 1, 2025, for $84,000. The machinery is estimated to have a salvage value of $8,400 after a useful life of 8 years.

(a)

Compute 2025 depreciation expense using the sum-of-the-years'-digits method.

Depreciation expense

$enter the depreciation expense in dollars

(b)

Compute 2025 depreciation expense using the sum-of-the-years'-digits method, assuming the machinery was purchased on April 1, 2025. (Do not round intermediate calculations. Round final answer to 0 decimal places, e.g. 5,125.)

Depreciation expense

$enter the depreciation expense in dollars rounded to 0 decimal places

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