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10. New equipment was purchased on January 1 for $144,000. It has a salvage value of $28,000 and a useful life of 10 years. To

10. New equipment was purchased on January 1 for $144,000. It has a salvage value of $28,000 and a useful life of 10 years. To the nearest dollar, how much will the depreciation expense for the equipment be for the first year using the straight-line method? A. $10 B. $11,600 C. $14,400 D. $967

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