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6. A dairy storage tank acquired at the beginning of the fiscal year at a cost of $98,500 has an estimated residual value of $7,500

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6. A dairy storage tank acquired at the beginning of the fiscal year at a cost of $98,500 has an estimated residual value of $7,500 and an estimated useful life of 10 years. Determine the following: a. The amount of annual depreciation by the straight-line method (5 points) b. The amount of depreciation for the FIRST and SECOND YEAR computed by the double-declining-balance meth straight-line rate) (5 points) od (twice the

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