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Already tried $12960 and it is wrong. Please help A storage tank acquired at the beginning of the fiscal year at a cost of $129,600
Already tried $12960 and it is wrong. Please help
A storage tank acquired at the beginning of the fiscal year at a cost of $129,600 has an estimated residual value of $8,000 and an estimated useful life of 10 years. a. Determine the amount of annual depreciation by the straight-line method. x b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, your answers to the nearest dollarStep by Step Solution
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