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Babson Co. purchased a machine 3 years ago for $ 140,000. The machine had no salvage value and was depreciated using the straight-line method over

Babson Co. purchased a machine 3 years ago for $ 140,000. The machine had no salvage value and was depreciated using the straight-line method over 7 years. After 3 years and $ 60,000 of depreciation was recorded, the company believes the estimated useful life of the equipment should be changed to 10 years. Calculate depreciation for year 4

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