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Jones Company purchases a new building for $675,000 on May 1, 2024. The building is fully financed by a mortgage. The building is expected to

Jones Company purchases a new building for $675,000 on May 1, 2024. The building is fully financed by a mortgage. The building is expected to be useful for 20 years, after which time it will have no residual value. The company wishes to use straight-line depreciation.

What is the amount for the year-end depreciation adjustment?

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