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Kansas Enterprises purchased equipment for $74,500 on January 1, 2021 The equipment is expected to have a five-year service life, with a residual value

Kansas Enterprises purchased equipment for $74,500 on January 1, 2021 The equipment is expected to have a five-year service life, with a residual value of $6,750 at the end of five years Using the straight-line method, depreciation expense for 2021 would be Multiple Choice $13,550, $16.250 $29.800,

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