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95 PE 10-1B Straight-line depreciation OBJ. 2 Equipment acquired at the beginning of the year at a cost of $340,000 has an estimated residual value

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95 PE 10-1B Straight-line depreciation OBJ. 2 Equipment acquired at the beginning of the year at a cost of $340,000 has an estimated residual value of $45,000 and an estimated useful life of 10 years. Determine (a) the depreciable cost, (b) the straight-line rate, and (c) the annual straight-line depreciation

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