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QUESTION 1 The cost of an asset is $1,070,000, and its residual value is $220,000. Estimated useful life of the asset is ten years. Calculate

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QUESTION 1 The cost of an asset is $1,070,000, and its residual value is $220,000. Estimated useful life of the asset is ten years. Calculate depreciation for the first year using the double-declining balance method of depreciation (Do not round any intermediate calculations, and round your final answer to the nearest dollar) $107.000 585,000 $170,000 $214,000

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