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Archie Co. purchased a framing machine for $54,000 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 $54,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $2.000 at the end of four years. Using the double-declining-balance method, depreciation for 2022 and book value at December 31, 2022, would be: Multiple Choice $13,000 and $41,000 respectively $13,500 and $13,500 respectively $13,000 and $2.000 respectively
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