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The corporation purchased a machine for 1 million. Freight and installation charges amounted to 3% of the purchase price. If the machine shall be depreciated

The corporation purchased a machine for 1 million. Freight and installation charges amounted to 3% of the purchase price. If the machine shall be depreciated over a period of 8 years with a salvage value of 12%. Determine the depreciation charged during the 5th year using the sum of the years digit method

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