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HELP PLEASE On January 1, a company purchased equipment for $80,000. The equipment's useful life is estimated to be 5 years with a $20,000 salvage

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On January 1, a company purchased equipment for $80,000. The equipment's useful life is estimated to be 5 years with a $20,000 salvage value. What would be the depreciation expense for the first year of its useful life using the double-declining balance method? $32,000 $12,000. $16,000. - $24,000 $20,000

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