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The Jenson purchased a line of new vehicles for $700,000. The vehicles are estimated to have a 5-year useful life and a $70,000 salvage value.
The Jenson purchased a line of new vehicles for $700,000. The vehicles are estimated to have a 5-year useful life and a $70,000 salvage value. The company uses the double-declining-balance method of depreciation. What will be the amount of annual depreciation recorded for the second year of the asset's life?
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
