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On January 1, 2020, Sheridan Company purchased a new machine for $4270000. The new machine has an estimated useful life of nine years and the
On January 1, 2020, Sheridan Company purchased a new machine for $4270000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $148000. Depreciation was computed using the sum-of-the-years- digits method. What amount should be shown in Sheridan's balance sheet at December 31, 2021, net of accumulated depreciation for this machine? $4122000 $2621200 $3445600 $2712800
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