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A machine costing $46,875 with a 5-year life and $2,800 residual value was purchased January 2. Compute depreciation for each of the five years, using

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A machine costing $46,875 with a 5-year life and $2,800 residual value was purchased January 2. Compute depreciation for each of the five years, using the double-declining-balance method. Year Depreciation Year 1 17,630 Year 2 10,578 Year 3 $6,346.8 Year 4 3,808.08 Year 5 2,284.84

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