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Archie Co. purchased a framing machine for $55,000 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 $55,000 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 2021 and book value at December 31, 2021, would be:

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