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A machine was purchased for $45,000 in early 2020. This equipment is estimated to have a lifespan of 4 years and an expected residual value

A machine was purchased for $45,000 in early 2020. This equipment is estimated to have a lifespan of 4 years and an expected residual value of $5,000. Determine the depreciation fee for the first year using the bonus depreciation method.

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