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On January 1, 2011, Munoz Co. purchased machinery. The machinery has an estimated useful life of eight years and an estimated salvage value of $2,830.
On January 1, 2011, Munoz Co. purchased machinery. The machinery has an estimated useful life of eight years and an estimated salvage value of $2,830. The depreciation applicable to this machinery was $30,673 for 2013, computed by the sum-of-the-years'-digits method. The acquisition cost of the machinery was (rounding hint: If you convert a fraction to a decimal, don't round it when going forward to use it in any calculations. For example, if 32/55 .581818181818181...leave all those decimals in your calculator when going on to do any further calculations.)
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