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On January 1, Year 1, Delaney Corporation purchased machinery having an estimated salvage value equal to 10% of its original cost at the end of

On January 1, Year 1, Delaney Corporation purchased machinery having an estimated salvage value equal to 10% of its original cost at the end of a 5-year life. The machinery was sold on December 31, Year 2, for 50% of its original cost. If the machinery

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