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very urgent Machinery acquired on May 3, 2022 at a cost of $270,000 has an estimated useful life of 8 years. The residual value is
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Machinery acquired on May 3, 2022 at a cost of $270,000 has an estimated useful life of 8 years. The residual value is estimated to be $22,000 at the end of the machinery's useful life. The company has a December 31 year end and uses the nearest whole month method to prorate depreciation. REQUIRED: Calculate the depreciation expense for 2022 and 2023 using the double diminishing- balance method
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