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On January 1, Year 1, Guava Company acquired a machine for $1,060,000. The estimated useful life of the asset is five years. Residual value at

On January 1, Year 1, Guava Company acquired a machine for $1,060,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $51,000. Calculate the depreciation expense per year using the straight-line method.

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