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Need helpOn January 2, 2019, Kaiman Corporation acquired equipment for $800,000. The estimated life of the equipment is 5 years or 60,

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Answer #1

Depreciation using Straight-Line Method = (Original Cost - Residual Value) / Useful life

= ($800,000 - $10,000) / 5

= $158,000 per year

Total Accumulated Depreciation on December 31, 2020 = $158,000 * 2 = $316,00

So, Answer is $316,000

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