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Henderson, Corp. purchases a machine with a 10-year useful life for $55,000 on January 1, 2020. The machine has a $4,000 salvage value. Assume the
Henderson, Corp. purchases a machine with a 10-year useful life for $55,000 on January 1, 2020. The machine has a $4,000 salvage value. Assume the machine is placed into service immediately. How much depreciation should Henderson Corp. record in 2020 on the machine using the double declining balance method of depreciation? Please round your answer to the nearest whole dollar (for example, you would round $4.12 to $4).
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