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1. On January 1, 2014, McMahan Company purchased equipment at a cost of $420,000. The equipment was estimated to have a useful life of 5

1. On January 1, 2014, McMahan Company purchased equipment at a cost of $420,000. The equipment was estimated to have a useful life of 5 years and a salvage value of $60,000. McMahan uses the sum-of-t...

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