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A building acquired at the beginning of the year at a cost

A building acquired at the beginning of the year at a cost of $650,000 has an estimated residual value of $125,000 and an estimated useful life of 40 years. Determine

(a) The double-declining-balance rate and

(b) The double-declining-balance depreciation for the first year.

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Accounting Basics: A building acquired at the beginning of the year at a cost

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Accounting Basics: A building acquired at the beginning of the year at a cost

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