Question
A machine with a purchase price of $150,000, an estimated useful life of 5 years, and a salvage/residual value of $10,000 is purchased on January
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A machine with a purchase price of $150,000, an estimated useful life of 5 years, and a salvage/residual value of $10,000 is purchased on January 1, 2019. Calculate depreciation for 2019 and 2020 using both the straight line and double declining balance methods. Please indicate your answers in the blanks provided below:
Straight-line depreciation for 2019 is______ , Straight-line depreciation for 2020 is_______ , Double Declining Balance depreciation for 2019 is _________, Double Declining Balance depreciation for 2020 is_________.
Please type just the numbers in the blanks, with no decimals, commas, or dollar signs (e.g., 20000).
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