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A business purchases equipment for $120,000 (4-year useful life; $15,000 salvage value) on 1/2/16. They use the double declining balance method to record depreciation. Calculate

A business purchases equipment for $120,000 (4-year useful life; $15,000 salvage value) on 1/2/16. They use the double declining balance method to record depreciation.

Calculate the annual depreciation expense the business should record in 2016 _____________

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