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A company purchased a delivery van for $27,700 with a salvage value of $3,100 on September 1, Year 1. It has an estimated useful life

A company purchased a delivery van for $27,700 with a salvage value of $3,100 on September 1, Year 1. It has an estimated useful life of 6 years. Using the straight-line method, how much depreciation expense should the company recognize on December 31, Year 1?

Multiple Choice

  • $4,617.

  • $1,025.

  • $1,367.

  • $1,539.

  • $4,100.

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