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A firm is considering purchasing an asset that will have a useful life of 15 years and cost $7.5 million; it will have installation costs

A firm is considering purchasing an asset that will have a useful life of 15 years and cost $7.5 million; it will have installation costs of $300000 and a salvage or residual value of $1800000. What is the annual straight-line depreciation for this asset?

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