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A company has the following information available about an equipment: Cost $ 350,000 Estimated residual Value $ 10,000 Estimated useful life 10 years Total estimated
A company has the following information available about an equipment:
Cost | $ 350,000 |
Estimated residual Value | $ 10,000 |
Estimated useful life | 10 years |
Total estimated output | 65,000 hours |
Actual hours used year during the first year of operation | 5,500 hours |
What is the depreciation expense for the first year under the straight-line method?
Select one:
A. $38,000
B. $34,000
C. $68,000
D. $28,769
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