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Q4) JKL Company purchased manufacturing equipment on January 1, 2018 for $13,000. Additionally, costs of $1,000...

Q4) JKL Company purchased manufacturing equipment on January 1, 2018 for $13,000. Additionally, costs of $1,000 for transportation of the equipment to JKL’s factory, $2,000 for installation of the equipment and 1,500 for advertising to hire operators for the equipment, were incurred by JKL. A useful life of 4 years and a residual value of $1,200 are estimated for the truck

Calculate depreciation expense and book value for 2018, 2019, 2020 and 2021, assuming the double declining-balance method of depreciation is used for the equipment.

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