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Inspire Company purchased a new car for use in its business on January 1,2020 . It paid $23,000 for the car. Inspire expects the car

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Inspire Company purchased a new car for use in its business on January 1,2020 . It paid $23,000 for the car. Inspire expects the car to have a useful life of four years with an estimated residual value of zero. Inspire expects to drive the car 50,000 miles during 2020 , 45,000 miles during 2021, 70,000 miles in 2022, and 19,000 miles in 2023 , for total expected miles of 184,000 Read the requirements. (Complete all input fields. Enter a 0 for any zero values.) Using the straight-line method of depreciation, calculate the following amounts for the car for each of the four years of its expected life: a. Depreciation expense b. Accumulated depreciation balance c. Book value

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