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Billy Bob purchased a new Fluff two years ago on January 1 of 2020. It cost him $75,000, has an estimated salvage value of $5,000

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Billy Bob purchased a new Fluff two years ago on January 1 of 2020. It cost him $75,000, has an estimated salvage value of $5,000 and is expected to last 10 years. What is the amount of depreciation expense this year? $ 7,000 $ 8,000 $ 14,000. Some other number $ 80,000

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