Assume Freedom Communications purchased a new piece of equipment on January 1, 2014 that cost $65,000. The estimate useful life is five years and estimated residual value is $2,000. Use the double declining balance method.

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A company bought a new machine for $22,000 on January 1. The machine is expected to last ten years and to have a residual value of $5,000. If the company uses the double declining balance method, accumulated depreciation at the end of year 2 will be

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