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MacGyver Company bought equipment on January 3, 2019, for $34,400. At the time of purchase, the equipment was estimated to have a useful life of

MacGyver Company bought equipment on January 3, 2019, for $34,400. At the time of purchase, the equipment was estimated to have a useful life of 5 years and a salvage value of $920. Using the straight-line method, the amount of one year's depreciation is

Multiple Choice

  • $920

  • $5,733

  • $465

  • $6,696

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