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The Howard Company purchased equipment on September 1, 2003, for $200,000. The residual value is...

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Accounting

The Howard Company purchased equipment on September 1, 2003, for $200,000. The residual value is $20,000 and the estimated life is 5 years or 60,000 hours. Compute depreciation expense for the year ending December 31, 2004, if the Howard Company uses the double-declining-balance method of depreciation.

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