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QUESTION
A company purchases equipment for $ 162,000 on January 1.It has an estimated residual value of $6,300 and an estimated useful life of 3 years.
A company purchases equipment for $ 162,000 on January 1. It has an estimated residual value of $6,300 and an estimated useful life of 3 years. The company uses the declining balance method of depreciation. Determine the amount of depreciation expense for the FIRST year.
