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Novak Company purchased a new machine on October 1, 2020, at a cost of $110,100. The company estimated that the machine will have a salvage
Novak Company purchased a new machine on October 1, 2020, at a cost of $110,100. The company estimated that the machine will have a salvage value of $10,100. The machine is expected to be used for 10,000 working hours during its 4-year life.
(c)
Compute the depreciation expense under declining-balance using double the straight-line rate for 2020 and 2021. (Round answers to 0 decimal places, e.g. 2,125.
2020 2021
Depreciation expense $
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