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Kentucky Fried Chicken (KFC) purchased equipment for $77,000 on 1/1. The equipment is expected to...

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Accounting

Kentucky Fried Chicken (KFC) purchased equipment for $77,000 on 1/1. The equipment is expected to have a four-year life, with a residual value of $10,000 at the end of four years. Using the double-declining balance method, what is the amount of depreciation expense for KFC for the current ending on 12/31?

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