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Oryx Company owns drilling rigs that had an opening net written down value of $45,000. The company purchased a new drilling rig for $95,000 and
Oryx Company owns drilling rigs that had an opening net written down value of $45,000. The company purchased a new drilling rig for $95,000 and sold an old rig for $25,000 during 2018. Oryx reported depreciation of $7,000 on its tax return. give the correct calculations and reasons for changing its calculations.
give the correct calculations and reasons for changing its calculations.
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