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Vaughn AG purchased a new plant asset on April 1, 2022, at a cost of 882,000. It was estimated to have a service life of
Vaughn AG purchased a new plant asset on April 1, 2022, at a cost of 882,000. It was estimated to have a service life of 20 years and a residual value of 72,240. Vaughn accounting period is the calendar year.
Compute the depreciation for this asset for 2022 and 2023 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 45,892.)
a. Depreciation for 2022
b. Depreciation for 2023
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