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The National Theatre purchased a new projector costing $100,000. The projector is expected to operate for 5 years, after which it will be sold for

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The National Theatre purchased a new projector costing $100,000. The projector is expected to operate for 5 years, after which it will be sold for salvage value (estimated to be $10,000). a) How much is the first and second year's depreciation expense if the company uses the double-declining- balance method? (7") b) What is the net book value of this projector at the end of the second year? (2)

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