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8 Marigold Company purchased a new plant asset on April 1,2025 , at a cost of $724,000. It was estimated to have a service life
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Marigold Company purchased a new plant asset on April 1,2025 , at a cost of $724,000. It was estimated to have a service life of 20 years and a salvage value of $60,400. Marigold' accounting period is the calendar year. (a) Compute the depreciation for this asset for 2025 and 2026 using the sum-of-the-years'-digits method. (Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 45,892.) Depreciation for 2025 \$ Depreciation for 2026$ eTextbook and Media Attempts: 3 of 15 used (b) Compute the depreciation for this asset for 2025 and 2026 using the double-declining-balance method. (Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 45,892 .) Depreciation for 2025$ Depreciation for 2026$Step by Step Solution
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