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On February 1 2022, Schuh Ltd. purchased a new machinery for $64,000, which is estimated...

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Accounting

On February 1 2022, Schuh Ltd. purchased a new machinery for $64,000, which is estimated to be used for 14 years and the estimated residual value at the end of it's useful life will be $8,000. Calculate the value of Depreciation Expense for the year 2022 and 2023. USe declining balance method at 30% Show workings clearly.

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