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Vaughn Manufacturing purchased machinery that was installed and ready for use on January 3, 2020, at a total cost of $243000. Salvage value was estimated
Vaughn Manufacturing purchased machinery that was installed and ready for use on January 3, 2020, at a total cost of $243000. Salvage value was estimated at $29000. The machinery will be depreciated over five years using the double-declining balance method. For the year 2021, Vaughn should record depreciation expense on this machinery of
$62960.
$58320.
$97200.
$51360.
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