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Consider the following data on an asset: Cost of asset, I $45,000 Useful life, N 7 years Salvage value, S $0 Compute the annual depreciation

Consider the following data on an asset:

Cost of asset, I	$45,000
Useful life, N	7 years
Salvage value, S	$0

Compute the annual depreciation allowances and the resulting book values by using the DDB method and then switching to the SL method.

Please show all work, thank you so much!

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