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On July 1, 2020, Concord Corporation purchased machinery for $247000. Salvage value was estimated to be $10500. The machinery will be depreciated over ten years
On July 1, 2020, Concord Corporation purchased machinery for $247000. Salvage value was estimated to be $10500. The machinery will be depreciated over ten years using the double-declining balance method. If depreciation is computed on the basis of the nearest full month, Concord should record depreciation expense for 2021 on this machinery of of O $44985. $39520. $33345. $44460
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