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On January 1, 2020, STU Company. purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and

On January 1, 2020, STU Company. purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and has a residual value of $5,000.

Required: Compute depreciation expense for 2020 and 2021 using the straight-line method and the double declining balance method. STU Company uses the half year convention.

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