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Koffman's Warehouse purchased a forklift on January 1, 2014, for exist330,000. The forklift is expected to last for five years and have a residual value
Koffman's Warehouse purchased a forklift on January 1, 2014, for exist330,000. The forklift is expected to last for five years and have a residual value of exist25,000. Koffman's uses the double-declining- balance method for depreciation. 1. Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift's life. If necessary, round any depreciation calculations to the nearest dollar
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