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KFC purchased a new low-fat chicken cooker at a cost of $26,500. The estimated life of the fryer is 5 years, with a salvage value

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KFC purchased a new low-fat chicken cooker at a cost of $26,500. The estimated life of the fryer is 5 years, with a salvage value of $3500. Find: (a) the annual rate of depreciation, (b) the annual amount of depreciation, and (c) the book value at the end of the first year. (Clendenson and Salzman 2015, p.595)

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