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On January 1, 2020, Blossom Corp. acquired a machine at a cost of $880000. It is to be depreciated on the straight-line method over a

On January 1, 2020, Blossom Corp. acquired a machine at a cost of $880000. It is to be depreciated on the straight-line method over a 5-year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Blossom's 2020 financial statements. The oversight was discovered during the preparation of Blossom's 2021 financial statements. Depreciation expense on this machine for 2021 should be ?????????

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