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QUESTION
A MACHINE WAS INITIALLY DEPRECIATED UNDER THE STRAIGHT LINE METHOD FOR THREE YEARS AT ON ANNUAL RATE OF 10%.
A MACHINE WAS INITIALLY DEPRECIATED UNDER THE STRAIGHT LINE METHOD FOR THREE YEARS AT ON ANNUAL RATE OF 10%.DURING THE SUBSEQUENT YEARS,IT WAS DEPRECIATED UNDER THE DIMINISHING BALANCE METHOD AT 8% PER YEAR. HOW LONG WILL IT TAKE FOR THE BOOK VALUE TO BE ONE-FIFTH OF THE ORIGINAL COST?
