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Double-Declining-Balance Depreciation Equipment acquired at the beginning of the year at a cost of $118,800 has an estimated residual value of $4,800 and an estimated

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Double-Declining-Balance Depreciation Equipment acquired at the beginning of the year at a cost of $118,800 has an estimated residual value of $4,800 and an estimated useful life of eight years. Determine the following. (a) The double-declining-balance rate (b) The double-declining-balance depreciation for the first year

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