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Calculate the net book value of the machine on december

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Reference no: EM132769849

Problem 1: Grey Inc. purchased a machine on January 1, 2019, for $400,000. The machine has an estimated useful life of 8 years and a $20,000 residual value. Calculate the net book value of this machine on December 31, 2021 using the double declining-balance method of depreciation.

Option 1: 56,250
Option 2: 168,750
Option 3: 75,000
Option 4: 225,000

Reference no: EM132769849

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