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A company purchased a new delivery van at a cost of $58,000 on July 1. The delivery van is estimated to have a useful life
A company purchased a new delivery van at a cost of $58,000 on July 1. The delivery van is estimated to have a useful life of 4 years and a salvage value of $4,600. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?
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$13,350.
$6,260.
$6,675.
$7,250.
$5,750.
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