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Equipment was purchased for $145000. Freight charges amounted to $5000 and there was a cost of $25000 for building a foundation and installing the equipment.

Equipment was purchased for $145000. Freight charges amounted to $5000 and there was a cost of $25000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $38000 salvage value at the end of its 5-year useful life. Depreciation Expense each year using the straight-line method will be

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