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A copy machine acquired on May 1 with a cost of $2,545 has an estimated useful life of 3 years. Assuming that it will have a residual value of $445, determine the depreciation for the first and second year by the straight-line method. Round your answers to the nearest whole dollar.
Delphi Technique
A method used for collecting and distilling the collective expertise of a group of experts through rounds of questionnaires, often used in forecasting and decision making.
Regression Analysis
A statistical method used to examine the relationship between one dependent variable and one or more independent variables.
Trend Analysis
A forecasting method that extrapolates from historical trends.
Delphi Technique
A method of gathering expert opinions on a subject matter through a series of questionnaires with controlled feedback.
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