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In January 2015, Bradley Corporation entered into a contract to acquire a new machine for its factory. The machine, which had a cash price of
In January 2015, Bradley Corporation entered into a contract to acquire a new machine for its factory. The machine, which had a cash price of $150,000, was paid for as follows: Down payment $40,000 400 shares of Bradley common stock with an agreed-upon value of $325 per share 130,000 $170,000 Prior to:he machine's use, installation costs of $10, 300 were incurred. The machine has an estimated useful life of 16 years and an estimated salvage value of $20,000. The straight-line method of depreciation is used. Instructions: In each case, compute the amount of depreciation or depletion for 2015
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