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Problem: A company purchases a new machine for $ 5 0 , 0 0 0 . The machine has an estimated useful life of 1

Problem:
A company purchases a new machine for $50,000. The machine has an estimated useful life of 10 years and a salvage value of $5,000. Calculate the annual depreciation expense using the straight-line method.
Problem:
Company XYZ acquired land for $100,000. It also paid $10,000 in legal fees for the purchase and $5,000 to remove an old building from the land before construction of a new building. Determine the total cost of the land.
Problem:
Calculate the current ratio for a company with current assets of $200,000 and current liabilities of $100,000.
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