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Calculate depreciation. A machine cost $800,000 on March 1, 2020. Its estimated salvage value is $80,000 and its expected life is 10 years. Instructions (1)

Calculate depreciation.

A machine cost $800,000 on March 1, 2020. Its estimated salvage value is $80,000 and its expected life is 10 years.

Instructions

(1) Calculate the depreciation expense (to the nearest dollar) by each of the following methods, showing the amounts used.

(a) Straight-line for 2020

(b) Double-declining balance for 2021

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