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PROBLEM 3 (10 POINTS) Diamond Autobody purchased new equipment for $90,000. Residual value at the end of an estimated four-year service life is expected to

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PROBLEM 3 (10 POINTS) Diamond Autobody purchased new equipment for $90,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. The double-declining-balance method of depreciation will be used. Instructions Prepare a depreciation schedule which shows the annual depreciation expense, accumulated depreciation, and book value on the machine for each year of its 4-year life 1

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