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Wangum Corp. purchased an asset that cost $257,500 on January 2 nd and has a residual value of $20,000 and a four-year life. Calculate the

  1. Wangum Corp. purchased an asset that cost $257,500 on January 2nd and has a residual value of $20,000 and a four-year life. Calculate the following:
    1. Annual depreciation expense under straight line.
    2. Second year of depreciation expense using double declining balance.
    3. BV of asset using straight line at the end of year 3

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