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20. Photo Studios began their business in the beginning of 2018. They are professional photographers that offer creative photography services. In the beginning of 2018,
20. Photo Studios began their business in the beginning of 2018. They are professional photographers that offer creative photography services. In the beginning of 2018, they deposited $20,000 as capital into their business account. They rented a small shop for 1 year for $2,000 a month and they paid the last month's rent in advance. They bought a printer for $2,000. Their printer has an estimated useful life of 4 years. After 4 years, there will be no value to the asset. Their revenue for the first 4 months was $6,000, $8,000, $9,000, and $10,000. They also sell creative photo frames in their store. During these 4 months, they made $3,000 from photo frame sales. The cost of those products sold is $1,000. 1) How much of their printer depreciation should be stated for the four months ending April 30, 2018
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