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Calculate the depreciation expense for the first two years

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Reference no: EM132492199

Equipment acquired on October 1, 2015, at a cost of $9,000, has an estimated useful life of 5 years. The residual value is estimated to be $1,000, and the company's year-end is December 31. The company adjusts its accounts annually.

Question 1: Calculate the depreciation expense for the first two years using the

a) straight-line method.

b) double diminishing-balance method with 40% rate.

Reference no: EM132492199

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