A building estimated to have a useful life of 30 years was completed at a cost of

Question:

A building estimated to have a useful life of 30 years was completed at a cost of $\$ 120,000$. It was estimated that at the end of the building's life it would be wrecked at a cost of $\$ 25,000$ and that materials salvaged from the wrecking operation would be sold for $\$ 13,000$. How much straight-line depreciation should be charged on the building each year?

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