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A company purchases equipment for $113,100 on January 1. It has an estimed residual value of $4,200 and an estimated useful life of 3 years.

A company purchases equipment for $113,100 on January 1. It has an estimed residual value of $4,200 and an estimated useful life of 3 years. The company uses the declining balance method of depreciation. Determine the amount of depreciation expense for the FIRST year

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