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A company purchased factory equipment for $560000. It is estimated that the equipment will have a $56000 salvage value at the end of its estimated

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A company purchased factory equipment for $560000. It is estimated that the equipment will have a $56000 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 $126000. $94500. $140000. $105000

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