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Novak Company purchased a new plant asset on April 1, 2020, at a cost of $786,000. It was estimated to have a service life of

Novak Company purchased a new plant asset on April 1, 2020, at a cost of $786,000. It was estimated to have a service life of 20 years and a salvage value of $67,800. Novak accounting period is the calendar year.

(a)

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

Compute the depreciation for this asset for 2020 and 2021 using the sum-of-the-years'-digits method. (Round answers to 0 decimal places, e.g. 45,892.)

Depreciation for 2020

$enter a dollar amount

Depreciation for 2021

$enter a dollar amount

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