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VRC Company purchases a piece of equipment for $113,000 cash on June 30, 2020. The expected useful life of the equipment is 5 years. At
VRC Company purchases a piece of equipment for $113,000 cash on June 30, 2020. The expected useful life of the equipment is 5 years. At the end of its life, the accountant estimates it can sell the equipment for $11,000. The company's accountant wishes to use DOUBLE DECLINING BALANCE depreciation. The company has a December 31 fiscal year end. Required: Compute the depreciation expense for all years of the assets life.
Note: Even if depreciation expense is ZERO, please include that year in your list.
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