New lithographic equipment, acquired at a cost of $875,000 at the beginning of a fiscal...
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Accounting
New lithographic equipment, acquired at a cost of $875,000 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $75,300. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected. In the first week of the fifth year, the equipment was sold for $128,100.
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