Pharoah Company purchased machinery with a list price of $92000. They were given a 9%...
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Pharoah Company purchased machinery with a list price of $92000. They were given a 9% discount by the manufacturer. They paid $600 for shipping and sales tax of $4800. Pharoah estimates that the machinery will have a useful life of 10 years and a residual value of $35000. If Pharoah uses straight-line depreciation, annual depreciation will be
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