A machine cost $500,000 on April 1, 2006. Its estimated salvage value is $50,000 and its expected life is 8 years.
Calculate Depreciation expense to the nearest dollar
1. Straight-line for 2006
2. Double declining balance for 2007
3. Sum-of-the year's digits
PLEASE SHOW ALL WORK
Straight line depreciation for the entire year will be (500,000-50,000)/8 = 56,250
However, the machine was purchased ...
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