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AppleInc.purchasedmachineryfor$150,000onJanuary1st,2023.Themachineryhasan estimatedusefullifeof10yearsandasalvagevalueof$10,000.Calculatethedepreciation expense for the first year using the straight-line method.

Apple Inc. purchased machinery for $150,000 on January 1st, 2023. The machinery has an estimated useful life of 10 years and a salvage value of $10,000. Calculate the depreciation expense for the first year using the straight-line method.

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