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A company purchased factory equipment for $500000. It is estimated that the equipment will have a $50000 salvage value at the end of its estimated

A company purchased factory equipment for $500000. It is estimated that the equipment will have a $50000 salvage value at the end of its estimated 8-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be

answer- 93,750

show me the work and explain why doesn't the salvage value get calculated into all of this?

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