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Calculate the book value of the machine at december

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Question - XYZ Company purchased a new machine on January 1, 2023 for $320,000. The machine had an 8-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.

Reference no: EM132044784

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