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Equipment was purchased for $309000. Freight charges amounted to $14100 and there was a cost of $39500 for building a foundation and installing the equipment.
Equipment was purchased for $309000. Freight charges amounted to $14100 and there was a cost of $39500 for building a foundation and installing the equipment. It is estimated that the equipment will have a $59900 salvage value at the end of its 5 -year useful life. Depreciation expense each year using the straight-line method will be $60540 $49820. $3520. $51080
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