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Question 2: Company Telviv is a large computer hardware manufacturer. On January 1st the company buys a new machine. The cost of the machine totals

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Question 2: Company Telviv is a large computer hardware manufacturer. On January 1st the company buys a new machine. The cost of the machine totals to $11,000 and includes the follows: Cost of machine: $9,000 Cost of delivery: $2,000 The machine is expected to work for 7 years, by the end of the seventh year the company expects to sell the machine for $500. After five years the company decides to sell the machine, the price received for the machine is $6,500. Required For each of the depreciation methods (straight line, double declining) do the following: a. Calculate the Depreciation expense, Accumulated depreciation and Machine, net, for the first 5 years of its operations. Year 1 Year 2 Year 3 Year 4 Year 5 Depreciation expense Accumulated depreciation Machine, net b. Under each one of the depreciation methods, calculate the gain/loss from the sale of the machine

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