Determine the first cost of a machine that is used for making spill-containment pallets if its book value in year 3 is $25,000. The machine has a 5-year life and the double declining balance method is applied.
What will be an ideal response?What will be an ideal response?
d = 2/5 = 0.40
25,000 = B(1 – 0.4)³
B = $115,740
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