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4) Marks (20) On January 1, 2020, Missoula Corporation bought machinery for $ 800,000. They used double declining balance depreciation for this asset, with an

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4) Marks (20) On January 1, 2020, Missoula Corporation bought machinery for $ 800,000. They used double declining balance depreciation for this asset, with an estimated life of eight years, and an estimated $ 200,000 residual value. At the beginning of 2020, Missoula decided to change to the straight-line method of depreciation for this equipment, and treated the change as a change in estimate. Comment on the impact of the change. Show step by step computation and entry recording of the change in the financial statements

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