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Cutter Enterprises purchased equipment for $75,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400.

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Cutter Enterprises purchased equipment for $75,000 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 O $13,320. $15,000. O $75,000. None of the other answer choices are correct

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