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Ivanhoe Inc., reported the following information about two of its machines as at December 31, 2019. Machine Date Acquired Cost Useful Life (in years)
Ivanhoe Inc., reported the following information about two of its machines as at December 31, 2019. Machine Date Acquired Cost Useful Life (in years) Residual Value #1 Jan. 1, 2011 $775,400 20 $41,120 #2 Jan. 1, 2019 $122,910 5 $4,910 (a) Calculate the annual depreciation for each asset using the straight-line method. Machine 1 $ Machine 2 $
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