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Archie Co. purchased a framing machine for $48,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value
Archie Co. purchased a framing machine for $48,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $3,000 at the end of four years. Using the straight-line method, depreciation for 2021 and book value at December 31, 2021, would be: Multiple Choice $11.250 and $33.750 respectively. $12,000 and $33.000 respectively. $11.250 and $36,750 respectively. $12,000 and $36.000 respectively
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