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Unformatted text preview: one through the number of years in the asset's useful life (1 + 2 + 3) or by substituting the number of years in the asset's useful life for x in the following equation. The sum of the years' digits for an asset with a five-year useful life is 15. Therefore, depreciation expense on the asset equals five-fifteenths of the depreciable cost during the first year, four-fifteenths during the second year, three-fifteenths during the third year, two-fifteenths during the fourth year, and one-fifteenth during the last year....
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.
- Fall '10