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The cost of new machine is $220,000. The cost of shipping is $10,000 and of installation is $20,000.The required working capital is $25,000. Using the

The cost of new machine is $220,000. The cost of shipping is $10,000 and of installation is $20,000.The required working capital is $25,000. Using the 3-year MACRS schedule, determine the depreciation expense in year 3. Round to the nearest penny. Do not include a dollar sign.

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