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Duncan Manufacturing Company acquired equipment on January 1, 2023, for $592,000. Estimated useful life of the equipment was seven years and the estimated residual value

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Duncan Manufacturing Company acquired equipment on January 1, 2023, for $592,000. Estimated useful life of the equipment was seven years and the estimated residual value was $11,000. On January 1, 2026, after using the equipment for three years, the total estimated useful life has been revised to nine total years. Residual value remains unchanged. The company uses the straight-line method of depreciation. What is the journal entry for the depreciation expense for 2026? (Round any intermediate calculations to two decimal places and your final answer to the nearest dollar.) O A. Depreciation Expense-Equipment Accumulated Depreciation Equipment 38,111 38,1 OB. Depreciation Expense--Equipment Accumulated Depreciation Equipment 36,889 36,8 O c. Depreciation Expense-Equipment Accumulated Depreciation-Equipment 57,167 57,1 OD. Depreciation Expense-Equipment Accumulated Depreciation-Equipment 55,333 55,3

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