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Determined the amount of depreciation for the first and

A storage tank acquired at the beginning of the fiscal of year at the cost of $97,200 has estimated residual value of $5,700 and an estimated useful life of three years.

A. Determine the amount of annual depreciation by straight line method.

B. Determined the amount of depreciation for the first and second year's computed by double declining Balance method.

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Accounting Basics: Determined the amount of depreciation for the first and

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