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A company buys a piece of equipment for $48,000. The equipment has a useful life of ten years. No residual value is expected at the

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A company buys a piece of equipment for $48,000. The equipment has a useful life of ten years. No residual value is expected at the end of the useful life. Using the double-declining balance method, what is the company's depreciation expense in the first year of the equipment's useful life? $4,800 $24,000 $9,600 $12,000

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