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On January 1, a machine with a useful life of 5 years and a salvage value of $8,000 was purchased for $160,000. What is the

On January 1, a machine with a useful life of 5 years and a salvage value of $8,000 was purchased for $160,000. What is the depreciation expense in the second year under the double declining-balance method? $38,400 $24,320 $25,600 $36,480

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