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12) Kansas Enterprises purchased equipment for $76,000 on January 1, 2024. The equipment is expected to have a ten-year service life, with a residual value
12) Kansas Enterprises purchased equipment for $76,000 on January 1, 2024. The equipment is expected to have a ten-year service life, with a residual value of $7,200 at the end of ten years. Using the straight-line method, depreciation expense for 2025 and the book value at December 31,2025 , would be: A) $6,880 and $55,040, respectively. B) $7,600 and $53,600, respectively. C) $7,600 and $60,800, respectively. D) $6,880 and $62,240, respectively
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