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A Firestone garage purchased a new tire change machine at a cost of $35,500. The estimated life of the machine is 10 years, with a

A Firestone garage purchased a new tire change machine at a cost of $35,500. The estimated life of the machine is 10 years, with a salvage value of $1,500. Find: a) the annual rate of depreciation b) the annual amount of depreciation c) the book value at the end of the first year Be sure to label your answers a), b), and c)

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