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On January 1, 2020 ABAC Farms purchased a machine for $50,000 with a $10,000 salvage value with a 5 year life. What is the depreciation

On January 1, 2020 ABAC Farms purchased a machine for $50,000 with a $10,000 salvage value with a 5 year life. What is the depreciation in year 4? Question 7 options: $800 $8,000 $4,320 $5,000

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