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March 27, 2017

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P Inc.purchased a $30,000 asset with a salvage value of$1,200 and an estimated useful life of three years.what is the book value at the end of years one and two using the 150% declining balance method?

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    Take 150% of the straight-line depreciation value each year. The straight-line depreciation for the first year would be (1/3)(30,000 - 1200) = 9600, and 150% of that is 14,400. That makes the book value after one year $15,600. Then use the same method for the second year.

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