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Drago Company purchased equipment on January 1, 2016, at a total invoice cost of $800,000. The equipment has an estimated residual value of $20,000 and

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Drago Company purchased equipment on January 1, 2016, at a total invoice cost of $800,000. The equipment has an estimated residual value of $20,000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used? Select one: a $160,000 O b $320,000 c. $156,000 d. $312,000

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