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Business, 03.12.2019 21:31 zeckwielen8205

Assume that swanson & hiller sells the machine on december 31 of the fourth year for $29,000 cash. compute the resulting gain or loss from this sale under each of the depreciation methods used in part a. swanson & hiller, inc., purchased a new machine on september 1 of the current year at a cost of $108,000. the machine’s estimated useful life at the time of the purchase was five years, and its residual value was $8,000. the company reports on a calendar year basis. prepare a complete description schedule.

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