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Slotkin Products purchased a machine for $65,000 on July 1, 2020. The company intends to depreciate it over 10 years using the double-declining balance method.

Slotkin Products purchased a machine for $65,000 on July 1, 2020. The company intends to depreciate it over 10 years using the double-declining balance method. Salvage value is $5,000. Depreciation for 2020 is

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$6,500.

$14,219.

$13,000.

$8,125.

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