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QUESTION 3 (20 marks) In its financial statements, Flysafe Airlines has been using straight-line method (not applying the half-year convention) to depreciate its aircraft over

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QUESTION 3 (20 marks) In its financial statements, Flysafe Airlines has been using straight-line method (not applying the half-year convention) to depreciate its aircraft over an estimated useful life of 12 years. Describe how the following changes would affect its financial statements: (a) Revise the useful life to 15 years. (b) Use Double declining-balance method

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