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MacGyver Company bought equipment on January 3, 2019, for $35,600. At the time of purchase, the equipment was estimated to have a useful life of
MacGyver Company bought equipment on January 3, 2019, for $35,600. At the time of purchase, the equipment was estimated to have a useful life of 6 years and a salvage value of $1,400. Using the straight-line method, the amount of one year's depreciation is
Multiple Choice
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$1,400
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$5,933
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$475
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$5,700
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