On June 1, 2011 Hanks Co purchased machinery at a cost of $42,000. The machinery is expected to last ten years and have a residual value of $6,000. Instructions: Compute depreciation for 2011, 2012 and 2013 and the book value of the drill press at December 31, 2013, assuming the (a) sum-of-the-years'-digits method is used. (b) double declining balance

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