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On June 29, Collins Company purchased equipment costing $15,100. The equipment has an estimated salvage value of $1,310 and an estimated useful life of

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On June 29, Collins Company purchased equipment costing $15,100. The equipment has an estimated salvage value of $1,310 and an estimated useful life of 5 years. Collins Company calculates depreciation to the nearest month. Required: Compute the depreciation expense for the first two years using the double-declining-balance method. Note: Round your responses to the nearest dollar. Year 1 depreciation expense : $ $ Year 2 depreciation expense: 5 ?

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