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Archie Company purchased a framing machine for $ 55,000 on January 1, 2024. The machine is expected to have a four-year life , with a

Archie Company purchased a framing machine for $ 55,000 on January 1, 2024. 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 straight- line method , depreciation for 2024 and book value on December 31, 2024 would be

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