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Atlas Painting purchased a new machine on September 1, 2020 , at a cost of 80,000. The company estimated that the machine will have a

Atlas Painting purchased a new machine on September 1, 2020, at a cost of 80,000. The company estimated that the machine will have a residual value of 2,000. The machine is expected to be used for 8year life.

Instructions:

Compute the depreciation expense under straight-line for the year ended December 31st :

2020 and

-2021

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