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Lansbury Company purchases equipment on January 1, year 1, at a cost of 518,000The asset is expected to have a service life of 12 years
Lansbury Company purchases equipment on January 1, year 1, at a cost of 518,000The asset is expected to have a service life of 12 years and a residual value of 50,000. Compute the amount of depreciation for each of years 1 through 3 using the sum-of-the-years'-digits method
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