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A plant asset acquired on October 1, 2017, at a cost of 4,000,000 has an estimated useful life of 10 years. The residual value
A plant asset acquired on October 1, 2017, at a cost of 4,000,000 has an estimated useful life of 10 years. The residual value is estimated to be 160,000 at the end of the asset's useful life. Instructions: a) 45 Determine the depreciation expense for the first two years using the straight-line method. (Depreciation is computed to the nearest full month) (10 points) 2017 Depreciation Expense 2018 Depreciation Expense: b) If the company uses half year convention method, Determine the depreciation expense for the first two years using the straight-line method. (10 points) 2017 Depreciation Expense 2018 Depreciation Expense
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