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A company bought a piece of equipment for $44,200 and expects to use it for eight years. The company then plans to sell it for
A company bought a piece of equipment for $44,200 and expects to use it for eight years. The company then plans to sell it for $4,700. The company has already recorded depreciation of $38,300.02. Using the double-declining-balance method, what is the company's annual depreciation expense for the upcoming year? (Round your answer to the nearest whole dollar amount.)
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