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Lia Enterprises, a large clothing mail-order retailer, purchased a new industrial sewing machine for $300,000. This machine is expected to operate for 6 years after

Lia Enterprises, a large clothing mail-order retailer, purchased a new industrial sewing machine for $300,000. This machine is expected to operate for 6 years after which it will be sold for salvage value estimated to be $30,000. What is the yearly depreciation expense under the straight-line method? What is the net book value after year 2?

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