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Cutter Enterprises purchased equipment for $63,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $4,800.

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Cutter Enterprises purchased equipment for $63,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $4,800. Using the straight-line method, depreciation for 2021 would be: Multiple Choice None of the other answer choices are correct. o $63,000. $12,600. O O $11,640

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