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[SOLVED] The Andrews Company has just purchased $59,068,000 of plant and equipment that has an estimated useful life of 15 years

The Andrews Company has just purchased $59,068,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $5,906,800. What will the accumulated depreciation expense for this purchase (exclude all other plant and equipment) be after its second year of use? (Use FASB GAAP)

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  •  $7,875,733
  •  $3,937,867
  •  $7,088,160
  •  $3,544,080



honeyd


24-04-21 | 13:34:57

Depretiation=(asset price-salvage value)/number of years
=(59068000-5906800)/15
=3544080
Accumilated expense=3544080*2
=7088160

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