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Sheridan Products purchased a machine for $70400 on July 1, 2025. The company intends to depreciate it over 8 years using the double-declining balance method.

Sheridan Products purchased a machine for $70400 on July 1, 2025. The company intends to depreciate it over 8 years using the double-declining balance method. The salvage value is $5400. Depreciation for 2026 to the closest dollar is?

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