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29. On January 1, a machine with a useful life of five years and a residual value of $5,000 was purchased for $25,000. What is

29. On January 1, a machine with a useful life of five years and a residual value of $5,000 was purchased for $25,000. What is the depreciation expense for year 2 using the straight-line depreciation method? a. $4,000 b. $5,000 c. $12,000 @ $15,000

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