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Archie Co. purchased a framing machine for $45,000 on January 1, 2016. The machine is expected to have a four-year life, with a residual
Archie Co. purchased a framing machine for $45,000 on January 1, 2016. The machine is expected to have a four-year life, with a residual value of $5,000 at the end of four years. Using the straight-line method, depreciation for 2017 and book value at December 31, 2017, would be: $10,000 and $20,000. $10,000 and $25,000. $11,250 and $17,500. $11,250 and $22,500.
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