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Cutter Enterprises purchased equipment for $102,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of

Cutter Enterprises purchased equipment for $102,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400. Using the straight-line method, depreciation for 2021 would be: Multiple Choice $18,720. $20,400, $102.000 None of the other answer choices are correct

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