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What is the correct book value for the machine

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Reference no: EM132565356

Question - A business purchased a machine for $750,000. The expected life of the machine is five years and the straight line depreciation rate is 20%. The machine is expected to have a residual value of $10,000.

Using the double-declining balance method of depreciation, what is the correct book value for the machine at the end of the first year?

a. $602,000

b. $590,000

c. $450,000

d. $440,000

Reference no: EM132565356

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