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Waterway Industries purchased machinery that was installed and ready for use on January 3, 2020, at a total cost of $232000. Salvage value was
Waterway Industries purchased machinery that was installed and ready for use on January 3, 2020, at a total cost of $232000. Salvage value was estimated at $29000. The machinery will be depreciated over five years using the double-declining balance method. For the year 2021, Waterway should record depreciation expense on this machinery of O $60320 O $92800. O $48720. $55680.
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