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Grouper Corp. purchased a boardroom table for $17,840. The company planned to keep it for four years, after which it was expected to be sold

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Grouper Corp. purchased a boardroom table for $17,840. The company planned to keep it for four years, after which it was expected to be sold for $980. (a) Calculate the depreciation expense for each of the first three years under the straight-line method and the double-diminishing balance method, assuming the table was purchased early in the first month of the first year. (1) Straight-line method: Year 1 $ Year 2 $ Year 3 $ (2) Double-diminishing-balance method: Year 1 $ Year 2 $ Year 3 $

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