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7. RAK, Inc. purchased a machine for $120,000 on April 1, 2021. The machine has an estimated useful life of ten years and a salvage

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7. RAK, Inc. purchased a machine for $120,000 on April 1, 2021. The machine has an estimated useful life of ten years and a salvage value of $20,000. The machine is being depreciated using the straight line depreciation method. For the year ending December 31, 2022, RAK should report depreciation expense as: A. $12,000. B. $10,000. D. Zero. C. $14,000

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