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A firm buys equipment for $120. The residual value is $10 and expected useful life to the firm is 5 years. The firm uses straight

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A firm buys equipment for $120. The residual value is $10 and expected useful life to the firm is 5 years. The firm uses straight line depreciation. After two full years of use, the firm revised the total expected useful life of the equipment (from 5) to 8 years. How much is the depreciation expense for the equipment for year 3

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