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Assume that on July 1, 2020 Co. A purchase an asset for 100,000 and has a 3-year useful life with estimated salvage value of 20,000.

Assume that on July 1, 2020 Co. A purchase an asset for 100,000 and has a 3-year useful life with estimated salvage value of 20,000. A uses the double declining method to account for depreciation expense. What is the depreciation expense in year 2020? 2021?

Why would a company not be willing to elect the revaluation method?

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