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18 On January 1, 2009, Grates Inc. purchased equipment for $30,000. The company is depreciating the equipment at the rate of $400 per month. At

18 On January 1, 2009, Grates Inc. purchased equipment for $30,000. The company is depreciating the equipment at the rate of $400 per month. At January 31, 2010, the balance in Accumulated Depreciation is $5,200. 1.00 $24,800 .bo $4,800 $400 .do

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