Koffman's Warehouse purchased a forklift on January 1, 2017, for $650,000. The forklift is expected to last for five years and have a residual value of $13,000. Koffman's uses the double-declining-balance method for depreciation. Required: 1. Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift's life. If necessary, round any depreciation calculations to the nearest dollar. Annual Accumulated Year Book Value Depreciation Depreciation 2017 2018 2019 2020 2021 2. Identify and analyze the effect of the transaction for depreciation for 2017. Activity Accounts Statement(s)

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.