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Stanley Co. purchased a machine that was installed and placed in service 1/2/13, at a total cost of $680,000. Residual value was estimated at $70,000.
Stanley Co. purchased a machine that was installed and placed in service 1/2/13, at a total cost of $680,000. Residual value was estimated at $70,000. The machine is being depreciated over ten years by the double-declining-balance method. For the year 2014, Stanley should record depreciation expense of (a) $108,800 (b) $97,600 (c) $68,000 (d) $61,000
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