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Secondary School Accountancy 5 points
On November 2, glass recycling company purchased special purpose equipment at a cost of $600,000. the useful life of the equipment to be 5 years, with a residual value of $90,000 . the company uses straight line depreciation half year convection for financial reporting purpose and the macrs for tax purpose. now compute the depreciation expense to be recognized in each calendar year for financial reporting purpose.
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