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9. On January 1, 2025, Janik Corp. acquired a machine at a cost of $900,000. It is to be depreciated on the straight-line method over
9. On January 1, 2025, Janik Corp. acquired a machine at a cost of $900,000. It is to be depreciated on the straight-line method over a five-year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Janik's 2025 financial statements. The oversight was discovered during the preparation of Janik's 2026 financial statements. Depreciation expense on this machine for 2026 should be
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