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Sandblasting equipment acquired at a cost of $64,000 has an estimated residual value of $5,200 and an estimated useful life of 6 years. It was
Sandblasting equipment acquired at a cost of $64,000 has an estimated residual value of $5,200 and an estimated useful life of 6 years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. Determine the depreciation for the current fiscal year and for the following fiscal year by a)the straight-line method and b)the declining-balance method, at twice the straight-line rate.
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