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On January 1, 2015, Shark Company purchased for 2,160,000 paper-making equipment having an estimated useful life of 5 years with an estimated residual value of

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On January 1, 2015, Shark Company purchased for 2,160,000 paper-making equipment having an estimated useful life of 5 years with an estimated residual value of 60,000. Depreciation is taken for the portion of the year the asset is used Instructions Determine the depreciation expense for 2015 using the 1. Double-declining balance method

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