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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?

Multiple Choice

$13,350.

$6,260.

$6,675.

$7,250.

$5,750.

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