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Carla Vista Company purchases equipment on January 1,2023 , at a cost of $436,880. The asset is expected to have a service life of 12
Carla Vista Company purchases equipment on January 1,2023 , at a cost of $436,880. The asset is expected to have a service life of 12 years and a salvage value of $50,000. Calculate the amount of depreciation for each of 2023,2024 , and 2025 using the straight-line depreciation method. Calculate the amount of depreciation for each of 2023,2024 , and 2025 using the sum-of-the-years'-digits method. Calculate the amount of depreciation for each of 2023,2024 , and 2025 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, e.g. 15.25% and final answers to 0 decimal places, e.g. 5,275.)
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