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On July 1, 2020, Crane Company purchased machinery for $230000. Salvage value was estimated to be $9000. The machinery will be depreciated over ten years
On July 1, 2020, Crane Company purchased machinery for $230000. Salvage value was estimated to be $9000. 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, Crane should record depreciation expense for 2021 on this machinery of of $41400. $31050. $41850. $36800.
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