Perfect Weld buys a specialty table saw for its metal fabrication business on January 1, 2016. The machine cost $240,000 and is expected to be used for five years. At the end of the five years it is expected that the machine can be sold for $16,000.
Compute the depreciation expense for the third year (2018) using both straight-line and double-declining-balance depreciation methods.

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The Answer of Perfect Weld buys a specialty table saw for its metal fabrication business on January 1, 2016. The machine cost $240,000 and is expected to be used for five years. At the end of the five years it is expected that the machine can be sold for $16,000.
Compute the depreciation expense for the third year (2018) using both straight-line and double-declining-balance depreciation methods.

Perfect Weld Buys a Specialty Table Saw for Its Metal