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Business, 02.03.2021 03:10 lexi9239

On January 1, 2015, Lake Co. purchased a machine for $1,056,000 and calculated depreciation using the straight-line method, with an estimated useful life of eight years, and no salvage value. On January 1, 2018, Lake determined that the machine had a useful life of six years from the date of acquisition, and a salvage value of $96,000. An accounting change was made in 2018 to reflect these data. The accumulated depreciation for this machine should have a balance at December 31, 2018, of . Group of answer choices

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On January 1, 2015, Lake Co. purchased a machine for $1,056,000 and calculated depreciation using th...
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