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Tennessee State University Operations And Supply Chain Management Assignment Help - Precision Manufacturing

Question - At the beginning of 2012, Precision Manufacturing purchased a new computerized drill press for $50,000. It is expected to have a five-year life and a $5,000 salvage value. a. Compute the depreciation for each of the five years, assuming that the company uses (1)Straight-line depreciation. (2)Double-declining-balance depreciation. b. Record the purchase of the drill press and the depreciation expense for the first year under the straight-line and double-declining-balance methods in a financial statement.

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