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What is depreciation expense for the first year

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Reference no: EM131554214

Question: Equipment was purchased for $46,000 with an estimated life of five years and residual value is estimated at $2,000. What is depreciation expense for the first year using each of the following separate depreciation methods?

a. Sum of the years' digits

b. Double declining balance

c. Straight line

Reference no: EM131554214

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