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12. a Klomparens Company purchased office fixtures on January 1, 2016. The cost was $12,000, and the fixtures had a residual value of $2,000. The
12. a Klomparens Company purchased office fixtures on January 1, 2016. The cost was $12,000, and the fixtures had a residual value of $2,000. The fixtures were estimated to have a useful life of 8 years. At the beginning of 2019, it was determined that the fixtures would be obsolete in 2 more years and would then be sold as scrap metal for $1,000. What will be the depreciation expense for 2019? Assume the company uses straight line depreciation method. A. $2,625 B. $2,500 C. $3,125 D. $3,625
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