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Apple Inc. purchased a new machine for $1,500,000 with an expected useful life of 10 years and no residual value. Using the straight-line method, calculate

Apple Inc. purchased a new machine for $1,500,000 with an expected useful life of 10 years and no residual value. Using the straight-line method, calculate the annual depreciation expense. Additionally, if the machine was sold after 5 years for $600,000, how would this affect the financial statements?

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