Problem: Sunland Company purchased machinery on January 1, 2020, for $90,400. The machinery is estimated to have a salvage value of $9,040 after a useful life of 8 years.
Compute 2020 depreciation expense using the double-declining-balance method.
Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2020.
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