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QUESTION 5 Determine the depreciation for the year of acquisition and for the following year of a fixed asset acquired on October 1 for $500,000

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QUESTION 5 Determine the depreciation for the year of acquisition and for the following year of a fixed asset acquired on October 1 for $500,000 with an estimated life of five years, and residual value of $50,000, using (a) the double-declining-balance method and (b) the straight-line method. Assume a fiscal year ending December 31. T T T Arial 3 (12pt) VT E ABC >

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