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Lima Enterprises purchased a depreciable asset for $22,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year
Lima Enterprises purchased a depreciable asset for $22,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,000, Lima Enterprises should recognize depreciation expense in Year 2 in the amount of:
a. $20,000 b. $9,250 c. $10,000 d. $5,500 e. $5,000
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