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A company purchased factory equipment for $500000. It is pestimated that the equipment will have a $60000 salvage value at the end of its estimated

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A company purchased factory equipment for $500000. It is pestimated that the equipment will have a $60000 salvage value at the end of its estimated 5-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 O $200000 $72960. O $120000 O $176000

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