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Consider the following information:

Cost of depreciable asset $50 000
Residual value $5 000
Estimated useful life 8 years

Employing both the straight-line (SL) and reducing-balance (RB, at 1.5 times the straight-line rate) methods of depreciation, what would be the deprecation charge in the first year and the accumulated depreciation in the third year of depreciating.

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