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Cullumber Corporation purchased a new piece of manufacturing equipment for its factory on January 1 , 2 0 2 3 . The equipment cost $

Cullumber Corporation purchased a new piece of manufacturing equipment for its factory on January 1,2023. The equipment cost $263,400 to purchase, and Cullumber expected to operate the machinery for 8 years before selling it second-hand for $33,000.
A. Calculate the straight-line depreciation expense for 2023, assuming that Cullumber's year end is December 31

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