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XYZ Company purchased a new machine on January 1, 2020 for $160,000. The machine was assigned...

XYZ Company purchased a new machine on January 1, 2020 for $160,000.
The machine was assigned a 40-year life and a $3,000 residual value.
XYZ Company will depreciate the machine using the double-declining
balance depreciation method.

Calculate the amount of accumulated depreciation related to the new
machine that would appear in XYZ Company's December 31, 2023 balance
sheet.
Business   Accounting   
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