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A company that organizes musical events acquires professional sound equipment worth $87,000.00. He estimates that its useful life will be three years before it must

A company that organizes musical events acquires professional sound equipment worth $87,000.00. He estimates that its useful life will be three years before it must be replaced with more modern equipment. Its scrap value is estimated at $5,000.00. Determine the annual depreciation by the straight line method.


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