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A company used straight-line depreciation for an item of equipment that cost $20,300, had a salvage value of $5,600 and a six-year useful life. After
A company used straight-line depreciation for an item of equipment that cost $20,300, had a salvage value of $5,600 and a six-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $2,030 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life: a-$1,470. b-$7,957. c-$5,600. d-$3,640. e-$5,040.
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