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Dorchester Company purchased a new van for floral deliveries on July 1, 2021. The van cost $20,000 with an estimated life of 5 years and

Dorchester Company purchased a new van for floral deliveries on July 1, 2021. The van cost $20,000 with an estimated life of 5 years and $5,000 residual value at the end of its useful life. The double diminishing-balance method of depreciation will be used. What is the depreciation expense for 2021?

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