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On January 1, 2014, Waterway Industries purchased equipment at a cost of $404000. The equipment was estimated to have a salvage value of $17000 and

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On January 1, 2014, Waterway Industries purchased equipment at a cost of $404000. The equipment was estimated to have a salvage value of $17000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2021? $50500 $48375 $10750 $11222

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