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Grey Inc. purchased a machine on January 1, 2019, for $400,000. The machine has an estimated useful life of 8 years and a $20,000 residual

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Grey Inc. purchased a machine on January 1, 2019, for $400,000. The machine has an estimated useful life of 8 years and a $20,000 residual value. Calculate depreciation expense for 2020 using the double declining-balance method of depreciation. (Fill in blanks with numbers only. No $ needed.)

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