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Baker Co purchased an asset for $100,000 on 1.1.X1. It had an estimated useful life of 5 years and it was depreciated using the reducing

  1. Baker Co purchased an asset for $100,000 on 1.1.X1. It had an estimated useful life of 5 years and it was depreciated using the reducing balance method at a rate of 40%. What is the depreciation expense at 31.12.X1?
  1. $24,000
  2. $76,000
  3. $16,000
  4. $40,000

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