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On January 1, 2019, ABC Company purchased a new machine for $550,000. The machine was assigned a $10,000 residual value and a 10-year life. ABC 

On January 1, 2019, ABC Company purchased a new machine for $550,000. The machine was assigned a $10,000 residual value and a 10-year life. ABC Company will depreciate the machine using the double-declining balance depreciation method. Calculate the book value of the machine at December 31, 2021.

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