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Carla Company purchased a piece of equipment at the beginning of 2014. The equipment cost $402,120. It has an estimated service life of 8 years
Carla Company purchased a piece of equipment at the beginning of 2014. The equipment cost $402,120. It has an estimated service life of 8 years and an expected salvage value of $66,960. The sum-of-the-years'-digits method of depreciation is being used. Someone has already correctly prepared a depreciation schedule for this asset. This schedule shows that $37,240 will be depreciated for a particular calendar year. Determine for what particular year the depreciation amount for this asset will be $37,240.
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