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Archie Co purchased a framing machine for $56,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value

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Archie Co purchased a framing machine for $56,000 on January 1, 2021. 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 2022 and book value at December 31, 2022, would be

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