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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. Novakaccounting period is the calendar year. Compute the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to O decimal places, e.g. 45,892.) Depreciation for 2020 $ Depreciation for 2021 $
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