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P purchased a machine on January 1, 2028 for $60528 At the time of purchase, the machine was expected to have a useful life
P purchased a machine on January 1, 2028 for $60528 At the time of purchase, the machine was expected to have a useful life of 18 years and a residual value of $1211 P uses straight-line depreciation At the beginning of 2038, P estimated the machine had a remaining useful life of 9 years with no residual value. Determine the following amounts The depreciation expense for the year ending December 31, 2028: 55954.33 The carrying value of the machine on January 1, 2038: 30264 The depreciation expense for the year ending December 31, 2038: 26901.33 The carrying value of the machine on December 31, 2038: 26901.33 The carrying value of the machine on December 31, 2046: 0
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