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LO 11.10 (Appendix 11.1) Auburn Company purchased an asset on January 1, Year 1, for $150,000. The asset has a MACRS life of 7 years.

LO 11.10 (Appendix 11.1) Auburn Company purchased an asset on January 1, Year 1, for $150,000. The asset has a MACRS life of 7 years. The residual value ofthe asset is $35,000. Calculate the depreciation expense for Year 1 and Year 2 using MACRS

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