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1134.Kansas Enterprises purchased equipment for $80,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of
1134.Kansas Enterprises purchased equipment for $80,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $8,700 at the end of ten years. Using the straight-line method, depreciation expense for 2022 and the book value at December 31, 2022, would be:
Multiple Choice
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A)$7,180 and $66,140.
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B)$7,180 and $57,440.
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C)$8,050 and $64,400.
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D)$8,050 and $55,700.
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