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2. The following information is given to you relating to a piece of equipment fully owned by a restaurant. Purchase cost Salvage value at the

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2. The following information is given to you relating to a piece of equipment fully owned by a restaurant. Purchase cost Salvage value at the end of 4 years of useful life $10,000 2,000 The company uses a a double declining balance method of depreciating all fixed assets. Required: A What is the amount of depreciation expense to be charged in Year 4 ? [2 pt.] B Prepare a depreciation schedule for the four years to show the total depreciation expense and the book value in each year over the life of the equipment. [10 pts.]

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