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A car costs $ 2 9 , 5 0 0 with a residual value of $ 5 , 0 0 0 . It is estimated

A car costs $29,500 with a residual value of $5,000. It is estimated that the useful life of the car is seven years. The amount of depreciation expense in year 2 using the declining-balance method at twice the straight-line rate is:

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