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An asset costing $40,000 with a residual value of $4,000 and useful life of four years is placed into service on 1 April 202. Assuming

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An asset costing $40,000 with a residual value of $4,000 and useful life of four years is placed into service on 1 April 202. Assuming the firm has a calendar-year reporting cycle, how much depreciation should be recorded at December 31, 202? Multiple Choice $10,000 $7,500 $9,000 $6,750

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