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A company purchased factory equipment for $590000. It is estimated that the equipment will have a $76000 salvage value at the end of its estimated

image text in transcribed A company purchased factory equipment for $590000. It is estimated that the equipment will have a $76000 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 $236000.$205600.$141600.$94560

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