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Farms purchased a machine with a cost of $120,000 and a salvage value of $20,000 and a useful life of 10 years. Assuming ABAC Farms

Farms purchased a machine with a cost of $120,000 and a salvage value of $20,000 and a useful life of 10 years. Assuming ABAC Farms uses double declining balance depreciation, what is the first year depreciation for this asset? Question 16 options: $20,000 $10,000 $24,000 $6,000

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