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* Your answer is incorrect. Coronado Co. purchased machinery that was installed and ready for use on January 3, 2025 at a total cost

* Your answer is incorrect. Coronado Co. purchased machinery that was installed and ready for use on January 3, 2025 at a total cost of $240000. The salvage value was estimated at $31000. The machinery will be depreciated over five years using the double-declining balance method. For the year 2026, Coronado should record depreciation expense on this machinery of $62560. $96000. O $57600. $50160.

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