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A piece of machinery was acquired on May 30, 2006 , for $48,000. At that time, its estimated useful life was 10 years, with a

A piece of machinery was acquired on May 30, 2006, for $48,000. At that time, its estimated useful life was 10 years, with a $1,500 residual value.

Calculate the depreciation expense for 2008 using the double declining method.

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