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A building acquired at the beginning of the year at a cost of $88,800 has an estimated residual value of $6,200 and an estimated useful

A building acquired at the beginning of the year at a cost of $88,800 has an estimated residual value of $6,200 and an estimated useful life of four years. Determine the following.

(a) The double-declining-balance rate %

(b) The double-declining-balance depreciation for the first year

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