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Machinery was purchased for $360000. Freight charges amounted to $14000 and there was a cost of $38000 for building a foundation and installing the
Machinery was purchased for $360000. Freight charges amounted to $14000 and there was a cost of $38000 for building a foundation and installing the machinery. It is estimated that the machinery will have a $50000 salvage value at the end of its 10-year useful life. Depreciation expense each year using the straight-line method will be O $41200. O $31000. O $36200 O $30800.
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