The Cardwell Company purchased a machine on January 2, 2016, at a cost of $1,200,000....
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Accounting
The Cardwell Company purchased a machine on January 2, 2016, at a cost of $1,200,000. The machine had an estimated useful life of eight years and a residual value of $120,000. Cardwell computes depreciation by the sum-of-the-years'-digits method. What amount, net of accumulated depreciation will appear on the company's December 31, 2018, balance sheet for this machine?
a.
$570,000
b.
$630,000
c.
$805,094
d.
$1,080,000
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