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Bob's BLT's purchases a sandwich making machine for $5,929 at the beginning of Year 1. He expects the machine to last 8 years, and expects

Bob's BLT's purchases a sandwich making machine for $5,929 at the beginning of Year 1. He expects the machine to last 8 years, and expects the machine to have a salvage value of $555. Given this information, how much depreciation expense will Bob record for the machine each year? Round your final answer to two decimal places.

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