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Company purchased equipment for $60,000 on January 1, 2018. The estimated useful life of the equipment is 5 years, with a residual value of $5000

Company purchased equipment for $60,000 on January 1, 2018. The estimated useful life of the equipment is 5 years, with a residual value of $5000 at the end of five years.

using straight-line method, depreciation expense for 2018 would be?

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