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A machine costing $70,000 with a 5-year life and $4,200 residual value was purchased January 2. Compute depreciation for each of the five years, using
A machine costing $70,000 with a 5-year life and $4,200 residual value was purchased January 2. Compute depreciation for each of the five years, using the double-declining-balance method.
| Year 1 | $fill in the blank 1 |
| Year 2 | $fill in the blank 2 |
| Year 3 | $fill in the blank 3 |
| Year 4 | $fill in the blank 4 |
| Year 5 | $fill in the blank 5 |
with explanation please
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