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23. ABC Company purchased a new piece of machinery in June 2020. The cost of the machinery was $50,000. It is a 5 year asset.

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23. ABC Company purchased a new piece of machinery in June 2020. The cost of the machinery was $50,000. It is a 5 year asset. ABC Company does not wish to take bonus depreciation or section 179. They will depreciate the asset using MACRS. Calculate the annual depreciation for years 1-6

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