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(18 points total) Consider the purchase of a new combine. The specific information is: Purchase price = $750,000.00, Purchase date = Jan 1, 2020 Useful

  1. (18 points total) Consider the purchase of a new combine. The specific information is:

Purchase price = $750,000.00, Purchase date = Jan 1, 2020

Useful life =6 years, Salvage value = $100,000.00

Complete each depreciation table.

Note: each highlighted box is worth 1 point for a total of 10 points possible

  1. Fill in the table using the straight-line method

Year

Remaining value at beginning of year

Depreciation

Remaining value at end of year

2020

2021

2022

2023

2024

2025

AREA TO SHOW WORK MUST SHOW WORK FOR

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