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A company purchased factory equipment for $500000. It is estimated that the equipment will have...

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Accounting

A company purchased factory equipment for $500000. It is estimated that the equipment will have a $60000 salvage value at the end
of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual
depreciation recorded for the second year after purchase would be
$200000.
$120000.
$72960.
$176000.
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