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A machine which cost $800,000 is acquired on October 1, 2020. Its estimated salvage value is $95,000 and its expected life is eight years. Instructions:

A machine which cost $800,000 is acquired on October 1, 2020. Its estimated salvage value is $95,000 and its expected life is eight years. Instructions: Calculate depreciation expense for 2020 and 2021 by each of the following methods, showing the figures used. (a) Straight-line depreciation (b) Double-declining balance

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