Equipment was purchased for 46400 with an estimated life of, Accounting Basics

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Equipment was purchased for 46400 with an estimated life of

Question: Equipment was purchased for $46,400 with an estimated life of 8 years and a residual value of $4,000. What is the depreciation expense for the first year using each of the following separate depreciation methods?

a. Sum of the years' digits

b. Double-declining balance

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Accounting Basics: Equipment was purchased for 46400 with an estimated life of

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Accounting Basics: Equipment was purchased for 46400 with an estimated life of

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