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A refrigerator used by a meat processor has a cost of $48,000, an estimated residual value of $9,000, and an estimated useful life of 15

A refrigerator used by a meat processor has a cost of $48,000, an estimated residual value of $9,000, and an estimated useful life of 15 years.

What is the amount of the annual depreciation computed by the straight-line method?

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