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Bam! Board Corporation is a company that manufactures and sells bodyboards. On 1/1/23, the company purchases a piece of manufacturing equipment for $2,200,000 cash. The
Bam! Board Corporation is a company that manufactures and sells bodyboards. On 1/1/23, the company purchases a piece of manufacturing equipment for $2,200,000 cash. The expected residual value is $400,000 and the useful life is 4 years.
Assume that Bam! Board Corporation uses the Double-Declining Balance method of depreciation. PLEASE SHOW THE FORMULA IN EXCEL
| 2023 | 2024 | 2025 | 2026 | |
| Depreciation Expense for the year | ||||
| Accumulated Depreciation at year-end | ||||
| Net PP&E on year-end Balance Sheet |
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