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Downing Company purchased a new machine on October 1, 2012, at a cost of $90,000. The company estimated that the machine has a salvage value of...

Downing Company purchased a new machine on October 1, 2012, at a cost of $90,000. The company estimated that the machine has a salvage value of $6,000. The machine is expected to be used for 70,000 working hours during its 8-year life.Compute depreciation using the following methods in the year indicated. (Round all answers to 0 decimal places, e.g. 2,510.)(a)Declining-balance using double the straight-line rate for 2012 and 2013.(b)Units-of-activity for 2012, assuming machine usage was 2,900 hours.

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