On 2015 January 1, Jackson Company purchased equipment for $400,000, and installation and testing costs totalled $40,000.
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Question:
On 2015 January 1, Jackson Company purchased equipment for $400,000, and installation and testing costs totalled $40,000. The equipment has an estimated useful life of 10 years and an estimated salvage value of $40,000. If Jackson uses the straight-line depreciation method, the depreciation expense for 2015 is:
$36,000
40,000
44,000
80,000
88,000
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