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Surplus Warehouse purchased a forklift on January 1, 2017, for $12,000. The forklift is expected to last for five years and have a residual value

Surplus Warehouse purchased a forklift on January 1, 2017, for $12,000. The forklift is expected to last for five years and have a residual value of $1,200. Surplus Warehouse uses the double-declining-balance method for depreciation.

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