What is the annual depreciation

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8 years ago, a new machine cost $7 million to purchase and an additional $580,000 for the installation. The machine was to be linearly depreciated to zero over 10 years. The company has just sold the machine for $4.2 million, and its marginal tax rate is 25%. Attempt 1/85 for 8 pts. Part 1 What is the annual depreciation?

Reference no: EM131354162

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