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A company purchased a building for $200,000 with a useful life of 20 years and no salvage value. Calculate the annual depreciation expense using the

A company purchased a building for $200,000 with a useful life of 20 years and no salvage value. Calculate the annual depreciation expense using the straight-line method and provide the journal entry for the fr. Discuss the impact of depreciation on financial statements and tax liabilities.

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