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Current Attempt in Progress Answer each of the following questions 1. A plant asset purchased for $900,000 has an estimated life of 20 vearstand aresidual value of $45,000, Depreciation for the seco determined by the double-declining-balance method is $ 2. A plant asset purchased for $792,000 at the beginning of the year has an estimated life of 5 years and a residual value of $72,00C third year, determined by the sum-of-the-years-digits method is $ 3. A plant asset with a cost of $972,000, estimated life of 5 years, and residual value of $162.000, is depreciated by the straight-line This asset is sold for $684,000 at the end of the second year of use The on the disposalis 5