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A machine costing $54,000 with a 6-year life and $6,000 residual value was purchased January 2, 2005. Compute the yearly depreciation expense using straight-line depreciation.

A machine costing $54,000 with a 6-year life and $6,000 residual value was purchased January 2, 2005. Compute the yearly depreciation expense using straight-line depreciation. Show all calculations

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