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Skysong Company purchased a new plant asset on April 1, 2020, at a cost of $729,000. It was estimated to have a service life of

Skysong Company purchased a new plant asset on April 1, 2020, at a cost of $729,000. It was estimated to have a service life of 20 years and a salvage value of $69,600. Skysong accounting period is the calendar year.

Compute the depreciation for this asset for 2020 and 2021 using the double-declining-balance method.

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