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A machine was purchased for $45,000. It has a useful life of 6 years and a residual value of $6,000. Under the straight-line method, what

A machine was purchased for $45,000. It has a useful life of 6 years and a residual value of $6,000. Under the straight-line method, what is the annual depreciation expense?

$1,000
$7,500
$3,750
$6,500
$15,000

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