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The asset does not have a residual value and is estimated

Albany Corporation purchased equipment at the beginning of Year 1 for $75,000. The asset does not have a residual value, and is estimated to be in service for 8 years.

Calculate the depreciation expense for Albany Corporation for Year 1 and Year 2 using the double declining-balance method. Round to the nearest dollar.

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Accounting Basics: The asset does not have a residual value and is estimated

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