On March 31, 2008, FedEx Kinko's purchased a Xerox copy machine for ($ 80,000). FedEx Kinko's expects
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On March 31, 2008, FedEx Kinko's purchased a Xerox copy machine for \(\$ 80,000\). FedEx Kinko's expects the machine to last for five years and to have a residual value of \(\$ 8,000\). Compute depreciation on the machine for the year ended December 31, 2008, using the straight-line method.
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