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Apple Inc. purchases machinery for $80,000 on January 1, 2024. The machinery has a useful life of 8 years and a salvage value of $8,000.

·Apple Inc. purchases machinery for $80,000 on January 1, 2024. The machinery has a useful life of 8 years and a salvage value of $8,000. Calculate the depreciation expense for the first four years using the double-declining balance method. Then, determine the book value of the machinery at the end of year 4.

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