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All Saints Ltd acquired a machine for $50 000 on 1 January. This asset has useful life of 4 years and a residual value of $10 000.

All Saints Ltd acquired a machine for $50 000 on 1 January. This asset has useful life of 4 years and a residual value of $10 000. The declining balance rate adopted by the entity for similar machines is 40%. What is the depreciation expense for the first year, if the depreciation policy adopted is straight-line, declining-balance or sum-of-digits method, respectively? 

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