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1 Taco Hut purchased equipment on May 1 2021 for $17,000. Residual value at the end of an estimated eight-year service life is expected to

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1 Taco Hut purchased equipment on May 1 2021 for $17,000. Residual value at the end of an estimated eight-year service life is expected to be $3,000 Calculate depreciation expense using the straight-line method for 2021 and 2022, assuming a December 31 year-end. (Do not round your intermediate calculations, Round your final answers to the nearest whole dollar) Year Depreciation 2021 2022

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