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A firm purchased computer-aided drafting and machining equipment at the beginning of the year for $420,000. The machine has an expected useful life of 6

A firm purchased computer-aided drafting and machining equipment at the beginning of the year for $420,000. The machine has an expected useful life of 6 years and a $38,000 residual value.

Calculate the annual depreciation expense for the first four years of the equipment's life using the double-declining-balance method.

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