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(36 points, 6 each) on 1 January 2020, XYZ Co. purchased a machine with cost of $120,000, expected life of 5 years and residual value

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(36 points, 6 each) on 1 January 2020, XYZ Co. purchased a machine with cost of $120,000, expected life of 5 years and residual value of $5,000. Use Double-Declining method. Compute the annual depreciation, accumulated depreciation and Ending book value for the first 2 years. TTT Arla #3 (12pt) + T IE

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