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A company purchased furniture on January 1. Its cost was $20,000, and...

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Question

Accounting

A company purchased furniture on January 1. Its cost was
$20,000,
and it had a residual value of
$4,000.
Its useful life is determined to be
5
years. Using
doubledeclining
balance depreciation, the depreciation for year 1 to the nearest dollar will be?

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