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On January 1, 2015, Rusalka Corporation purchased a water processing machine for $675,000 and depreciated it by the straight-line method using an estimated life of
On January 1, 2015, Rusalka Corporation purchased a water processing machine for $675,000 and depreciated it by the straight-line method using an estimated life of seven years with a salvage value of $80,000. On January 1, 2018, Rusalka determined that the machine had a useful life of 10 years from the date of acquisition and will have no salvage value. An accounting change was made in 2018 to reflect these additional data. What should be the accumulated depreciation account balance for this machine at December 31, 2018?
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