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Suppose the company purchases the following asset: Cost = $20,000 ($18,000 + $2,000 for shipping and install) Residual value = $5,000 (estimated selling ( price

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Suppose the company purchases the following asset: Cost = $20,000 ($18,000 + $2,000 for shipping and install) Residual value = $5,000 (estimated selling ( price in 5 years). Expected useful life = 5 years What is the depreciation expense in year 3? Assume Double-Declining Balance O $2,880 O $2,200

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