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Exercise 7-12A Determine straight-line depreciation for partial periods (L07-4) Togo's Sandwiches acquired equipment on April 1, 2021, for $15,500. The company estimates a residual value

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Exercise 7-12A Determine straight-line depreciation for partial periods (L07-4) Togo's Sandwiches acquired equipment on April 1, 2021, for $15,500. The company estimates a residual value of $1.500 and a five- year service life Required: Calculate depreciation expense using the straight line method for 2021 and 2022, assuming December 31 year-end. Answer is complete but not entirely correct. 2021 10,500 $ 2022 Depreciation expenso S 14,000

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