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KL Ltd. purchased kitchen equipment for $37,000 with a residual value of $7,000 and a life expectancy of 5 years. Using straight line depreciation the

KL Ltd. purchased kitchen equipment for $37,000 with a residual value of $7,000 and a life expectancy of 5 years. Using straight line depreciation the amount of the depreciation adjustment for the first year would be: Question 22 options: $6,000 $5,000 $6,400 $4,000

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