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Amount of accumulated depreciation olds

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Reference no: EM13536276

Olds Company purchased an asset that cost $36,000 on January 1, 2010. The asset had an expected useful life of five years and an estimated salvage value of $5,000. Assuming Olds uses the double-declining-balance method, determine the amount of depreciation expense and the amount of accumulated depreciation Olds would report on the 2012 financial statements.

Reference no: EM13536276

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