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Calculate the depreciation expense

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Problem - Akron Incorporated purchased an asset at the beginning of Year 1 for $375,000. The estimated residual value is $15,000. Akron estimates that the asset has a service life of 5 years. Calculate the depreciation expense using the sum-of-the-years' -digits method for Years 1 and 2 of the asset's life.

Reference no: EM132885516

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