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XYZ Company purchased a new machine on January 1, 2023 for $230,000. The machine had a 10-year life and a $5,000 salvage value assigned to

XYZ Company purchased a new machine on January 1, 2023 for $230,000. The machine had a 10-year life and a $5,000 salvage value assigned to it. Calculate the book value of the machine at December 31, 2026 assuming the company will depreciate the machine using the double-declining balance depreciation method.

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