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Daily Enterprises is purchasing a 10.2 million machine. It will cost 51,000 to transport and install...

Daily Enterprises is purchasing a 10.2 million machine. It will cost 51,000 to transport and install the machine. The machine has a depreciable life of five years and will have no salavage value. If daily uses straight-line depreciation, what are the yearly depreciation expenses associated with this machine?
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Answer #1

Yearly depreciation expense = (Cost - Salvage value) / Useful life

Yearly depreciation expense = ($10,200,000 + $51,000 - $0) / 5

Yearly depreciation expense = $2,050,200

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