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Equipment with a cost of $160,472 has an estimated residual value of $8,791 and an estimated life of 4 years or 14,344 hours. It is

Equipment with a cost of $160,472 has an estimated residual value of $8,791 and an estimated life of 4 years or 14,344 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,371 hours?

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