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I need help with this question, my answer was wrong On January 1, 2022, Oriole Corporation acquired machinery for $1510000. Oriole adopted the straight-line method
I need help with this question, my answer was wrong
On January 1, 2022, Oriole Corporation acquired machinery for $1510000. Oriole adopted the straight-line method of depreciation for this machine and had been recording depreciation over an estimated life of ten years, with no residual value. A.t the beginning of 2025, a decision was made to change to the double-declining balance method of depreciation for this machine. Assuming a 20% tax rate, the cumulative effect of this accounting change on beginning retained earnings, is $227104.$283880.$169120.$0Step by Step Solution
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