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Daily Enterprises is purchasing a $10.3 million machine. It will cost $54,000 to transport and install the machine. The...

Daily Enterprises is purchasing a $10.3 million machine. It will cost $54,000 to transport and install the machine. The machine has a depreciable life of five years and will have no salvage value. If Daily uses​ straight-line depreciation, what are the depreciation expenses associated with this​ machine? The yearly depreciation expenses are. (Round to the nearest​ dollar.)

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Answer #1

Total cost = Cost + transport and installation cost

Total cost = $10,300,000 + $54,000

Total cost = $10,354,000

Yearly depreciation = Total cost / number of years

Yearly depreciation = 10,354,000 / 5

Yearly depreciation = $2,070,800

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