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Cutter Enterprises purchased equipment for $87,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $4,200

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Cutter Enterprises purchased equipment for $87,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $4,200 Using the straight-line method, depreciation for 2021 would be: $17,400 None of the other answer choices ore correct. $16.560 $87,000

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