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Cutter Enterprises purchased equipment for $93,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $3,600.

Cutter Enterprises purchased equipment for $93,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $3,600. Using the double-declining-balance method, depreciation for 2025 would be:

37,200

21,456

22,320

None of the other answer choices are correct

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