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Company X bought new petroleum refining equipment in the year 2010. The purchase cost was 195,919 dollars and in addition it had to spend 19,734
Company X bought new petroleum refining equipment in the year 2010. The purchase cost was 195,919 dollars and in addition it had to spend 19,734 dollars for installation. The refining equipment has been in use since February 12, 2010. Omega forecasted that in 2040 the equipment would have a net salvage value of $10,000. Using the US Straight Line Depreciation Schedule, estimate the value of depreciation recorded in the accounting books in the year 2014 if the company decided to sell the equipment on August 26th (of 2014). (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)
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