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46. Morgan Corporation purchased a depreciable asset for $600,000 on January 1, 2018. The estimated salvage value at that time was $60,000, and the estimated

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46. Morgan Corporation purchased a depreciable asset for $600,000 on January 1, 2018. The estimated salvage value at that time was $60,000, and the estimated useful life was 9 years. The straight-line method is used for depreciation. At the beginning of 2021, Morgan changed its estimates to a total useful life of 5 years with a salvage value of $90,000. Calculate 2021 depreciation expense

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