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20 Kansas Enterprises purchased equipment for $75,000 on January 1, 2018. The equipment ls expected to have a ten-year life, with a residual value of
20 Kansas Enterprises purchased equipment for $75,000 on January 1, 2018. The equipment ls expected to have a ten-year life, with a residual value of $7,050 at the end of ten years. Using the straight-line method, depreciation expense for 2019 and the book value at December 31, 2019 would be: O $7,500 and $60,000 $7,500 and $52,950 O $6,795 and $54,360. O $6,795 and $61.410
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