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A copy machine acquired on May 1 with a cost of $2,545 has an estimated useful life of three 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.
Private Ownership
The legal right of individuals or entities to possess, use, and dispose of property without many restrictions from government entities.
Public Property
Assets owned by the government (local, state, or federal) that are dedicated for public use and benefit.
Ecocentrist
An individual or philosophy that places intrinsic value on all living organisms and their natural environment, emphasizing the importance of ecological balance.
Ecosphere
The global interconnection of all ecosystems and living organisms, functioning as a single self-regulating entity.
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