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Tory Enterprises pays $238,400 for equipment that will last five years and have a $43,600 salvage value. Ely using the equipment in its operations for

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Tory Enterprises pays $238,400 for equipment that will last five years and have a $43,600 salvage value. Ely using the equipment in its operations for five years. the company expects to earn $88,500 annually, after deducting all expenses except depreciation. Prepare a table showing income before depreciation, depreciation expense. and net [pretax] income for each year and for the total ve-year period. assuming straight-line depreciation. (Enter all amounts positive values.) 6 Answer is complete but not entirer correct. Year 1 3 33,500 9 3 95,330 9 3 (3,330) 9 Year 2 33,500 0 57,216 0 31,204 0 Year 3 33,500 9 34,330 0 54,170 0 Year 4 33,500 9 7,334 0 30,303 0 Year 5 33,500 0 0 0 33,500 0 Totals 5 442,500 5 194,300 $247,700

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