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Question 1 of 3 < View Policies Show Attempt History Current Attempt in Progress On January 1, 2020, Swifty Company purchased the following two
Question 1 of 3 < View Policies Show Attempt History Current Attempt in Progress On January 1, 2020, Swifty Company purchased the following two machines for use in its production process. Machine A: Machine B 11/33 The cash price of this machine was $52,000. Related expenditures included: sales tax $3,100, shipping costs $200, insurance during shipping $120, installation and testing costs $50, and $150 of oil and lubricants to be used with the machinery during its first year of operations. Swifty estimates that the useful life of the machine is 5 years with a $5,500 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. The recorded cost of this machine was $180,000. Swifty estimates that the useful life of the machine is 4 years with a $10,200 salvage value remaining at the end of that time period.
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