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A company acquired equipment on April 1, 2010 for $160,000. The company estimates the useful life for the equipment is 400,000 units and the estimated

A company acquired equipment on April 1, 2010 for $160,000. The company estimates the useful life for the equipment is 400,000 units and the estimated salvage value is $60,000. The equipment has an estimated useful life of 5 years. The company uses the straight-line method of depreciation. Determine the depreciation expense of the equipment on December 31, 2010.

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