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A diesel-powered tractor with a cost of $337,980 and estimated residual value of $3,900 is expected to have a useful operating life of 87,000 hours.

A diesel-powered tractor with a cost of $337,980 and estimated residual value of $3,900 is expected to have a useful operating life of 87,000 hours. During November, the tractor was operated 300 hours.

Determine the depreciation for the month. Carry out any division to two decimal places.

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