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Honeywall Corporation purchased a new machine costing $27,000 on January 1, 2019. The machine is expected to have a $2,000 salvage value at the end

Honeywall Corporation purchased a new machine costing $27,000 on January 1, 2019. The machine is expected to have a $2,000 salvage value at the end of its useful life of five years.

What is the depreciation expense that Honeywall Corporation records for 2020 using the straight-line method?

Group of answer choices

$10,000

$5,400

$10,800

$5,000

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