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Broadway Ltd. purchased equipment on January 1, 2019. for $700,000, estimating a five-year useful life and no residual value. In 2019 and 2020. Broadway depreciated

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Broadway Ltd. purchased equipment on January 1, 2019. for $700,000, estimating a five-year useful life and no residual value. In 2019 and 2020. Broadway depreciated the asset using the straight-line method. In 2021. Broadway changed to sum-of-years' digits depreciation for this equipment. What depreciation would Broadway record for the year 2021 on this equipment? (Do not round your depreciation rate.) Multiple Choice $140,000 $280,000 Activate Window

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