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Will thumbs up if correct Archie Company purchased a framing machine for $45,000 on January 1,2024 . The machine is expected to have a four-year
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Archie Company purchased a framing machine for $45,000 on January 1,2024 . The machine is expected to have a four-year life, with a residual value of $5,000 at the end of four years. Using the sum-of-the-years'-digits method, depreciation for 2024 and book value on December 31,2024 , would be: Multiple Choice $16,000 and $29,000, respectively. $18,000 and $27,000, respectively. $18,000 and $22,000, respectively. $16,000 and $24,000, respectivelyStep by Step Solution
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