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ABC Corp. purchased machinery for $120,000 on January 1, 20X1. The estimated salvage value is $20,000, and the expected useful life is 5 years. Calculate

ABC Corp. purchased machinery for $120,000 on January 1, 20X1. The estimated salvage value is $20,000, and the expected useful life is 5 years. Calculate the annual depreciation using the double-declining balance method

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