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On June 1, 2021. Blossom Manufacturing acquired a machine for $101000 with an estimated useful life of five years and an estimated residual value of

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On June 1, 2021. Blossom Manufacturing acquired a machine for $101000 with an estimated useful life of five years and an estimated residual value of $10000. The comparyy uses the double-declining method of depreciation and takes a full year's depreciation in the year of acquisition and none in the year of disposition. If the machine were disposed of for $16000 on May 1,2023, the loss on disposal would be $36360. $24240. $26764. $20360

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