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A grader has an initial cost of $220,000 and an estimated useful life of 20 years. The salvage value after 20 years of use is

A grader has an initial cost of $220,000 and an estimated useful life of 20 years. The salvage value after 20 years of use is estimated to be $25,000. What is the annual depreciation amount if the straight-line method of depreciation accounting is used?

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