Determine the total depreciation cost during the first year

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Reference no: EM131061577

The total value of a new plant is $2 million. A certificate of necessity has been obtained permitting a write-off of 60 percent of the initial value in 5 years. The balance of the plant requires a write-off period of 15 years. Using the straight-line method and assuming negligible salvage and scrap value, determine the total depreciation cost during the first year.

Reference no: EM131061577

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