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Calculate the depreciation for 20X1. Blossom Company paid $42,000 to purchase equipment on January 1, 20X1. Blossom Company has a December 31 fiscal year end

Calculate the depreciation for 20X1.

Blossom Company paid $42,000 to purchase equipment on January 1, 20X1. Blossom Company has a December 31 fiscal year end and uses straight-line depreciation. The company estimates the equipment will have a 10-year useful life.

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