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Equipment costing $24,000 with an estimated salvage value of $1,920 and an estimated life of 8 years was purchased on October 31, 2019. Using the

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Equipment costing $24,000 with an estimated salvage value of $1,920 and an estimated life of 8 years was purchased on October 31, 2019. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 2019? Multiple Choice $230 $5,520 $460 $1,920

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