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Ch. 10 Depreciation 3. Spring Company purchased a delivery van for $38,000 with a salvage value of $3,000 on October 1, Year 1. It has

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Ch. 10 Depreciation 3. Spring Company purchased a delivery van for $38,000 with a salvage value of $3,000 on October 1, Year 1. It has an estimated useful life of5 years. Using the straight-line method, how much depreciation expense should the company recognize on December 31, Year 1

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