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Eastern Builders Company purchased equipment at $2,400,000. The equipment is estimated to have estimated useful life of 20 years at which time it is expected

Eastern Builders Company purchased equipment at $2,400,000. The equipment is estimated to have estimated useful life of 20 years at which time it is expected to have a savage value of $50,000. What is annual (yearly) depreciation expense that is computed on the straight-line method? Select one: a. $117,500 b. $120,000 c. $122,500 d. $235,000

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