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Kevin Company purchased some equipment of July 1, Year 1, for $160,000. The equipment has an estimated useful life of 10 years and an estimated

Kevin Company purchased some equipment of July 1, Year 1, for $160,000. The equipment has an estimated useful life of 10 years and an estimated salvage value of $10,000. Kevin computes depreciation of a straight-line basis. How much depreciation should be recorded for the year ended December 31, Year 1?

A. $3.750

B. $7,500

C. $8,000

D. $15,000

E. $16,000

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