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On January 1, 2009, the Holloran Corporation purchased a machine at a cost of $55,000. The machine was expected to have a service life of
On January 1, 2009, the Holloran Corporation purchased a machine at a cost of $55,000. The machine was expected to have a service life of 10 years and no residual value. The straight-line depreciation method was used. In 2011 the estimate of residual value was revised from zero to $6,000. Depreciation for 2011 should be
A.3800
B.4400
C.4750
D.5500
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