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QUESTION 4 On January 1, 2013, ABC Corporation acquired machinery at a cost of $600,000,...

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Accounting

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QUESTION 4 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 M. 584,000 Ill. $120.000 none of the above

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