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The cost of an asset is $1,110,000, and its residual value is $300,000. Estimated useful life of the asset is five years. Calculate depreciation for

The cost of an asset is $1,110,000, and its residual value is $300,000. Estimated useful life of the asset is five years. Calculate depreciation for the second year using the double-declining-balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)

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