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Equipment was purchased on November 12th, 2020 in the amount of $240,000. It has a zero salvage value and a ten year useful life. Assuming

Equipment was purchased on November 12th, 2020 in the amount of $240,000. It has a zero salvage value and a ten year useful life. Assuming straight-line depreciation, how much depreciation is recognized in 2020 using the method 'exact, to the closest month'?

Question 3 options:

$2,000

$4,000

$12,000

$24,000

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