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On January 2, 20X1, the Unit Manufacturing Company purchased manufacturing equipment for $82,000. The equipment is expected to have a useful life of 8 years
On January 2, 20X1, the Unit Manufacturing Company purchased manufacturing equipment for $82,000. The equipment is expected to have a useful life of 8 years and a salvage value of $2,000. Prepare a schedule showing the annual depreciation for each of the first three years of the assets life under the straight-line method, the double-declining-balance method, and the sum-of-the-years-digits method.
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