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Kenarth Oil recently paid $497,400 for equipment that will last five years and have a residual value of $123,000. By using the machine in its

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Kenarth Oil recently paid $497,400 for equipment that will last five years and have a residual value of $123,000. By using the machine in its operations for five years, the company expects to earn $189,000 annually, after deducting all expenses except depreciation. Complete the schedule below assuming each of (a) straight-line depreciation and (b) double-declining-balance depreciation. (Enter loss amounts with a minus sign.) (a) Straight-Line Depreciation: Year1 Year2 Year3 Year4 Year55-Year Totals Profit before depreciation Depreciation expenses Profit(loss) Doub D clining-Balance Depreciation Yearz Y Year5 5-year Totals Yearl Year4 Pro e depreciation expenses

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