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A company purchased a new piece of machinery for $100,000. The expected useful life of the machinery is 10 years, and the company plans to

A company purchased a new piece of machinery for $100,000. The expected useful life of the machinery is 10 years, and the company plans to use the machinery for 8 years. What is the annual depreciation expense using the straight-line method, and what is the book value of the machinery after 5 years?

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