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1. On January 1, 2020. Wish You the Best purchased a building for $2,000,000. They expect to use the building over the next 5 years.
1. On January 1, 2020. Wish You the Best purchased a building for $2,000,000. They expect to use the building over the next 5 years. The estimated residual value of the warehouse is $200,000. Complete the following depreciation schedule using the double-declining balance method of depreciation 15 Points Book Value Depreciation Expense Accumulated Depreciation Year Book value 1/1/2020 $2,000,000 Rate $2,000,000 12/31/20 12/3121 12/31/22 12/31/23 12/31/24
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