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Equipment acquired at the beginning of the year at a cost of $ 5 4 0 , 0 0 0 has an estimated residual value

Equipment acquired at the beginning of the year at a cost of $540,000 has an estimated residual value of $40,000 and an estimated useful life of 10 years. Determine the following.
a. The double-declining-balance rate %
b. The double-declining-balance depreciation for the first year

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