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XYZ Company purchased a new machine on January 1, 2002 for $84,000. The machine had a 5-year life and a $1,000 salvage value assigned to it.

find out the amount of accumulated depreciation on the machine shown in the December 31, 2004 balance sheet assuming the company uses the double-declining balance depreciation method. Do not use decimals in your answer.

Accounting Basics, Accounting

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