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A machine was purchased for $30,000. Shipping charges were $600 and install was $400. It has a useful life of 8 years. At the end of 8 years it will require $900 of dismantling charges to be sold for $6,000. What is the depreciation charge for the first year and what is the Book Value at the end of the first year using a) straight line b)declining balance.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92018644

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