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On January 2, 2004, a firm purchased equipment for $8,500. Annual depreciation expense for 2004, given the straight line method, a 5-year useful life, and

On January 2, 2004, a firm purchased equipment for $8,500. Annual depreciation expense for 2004, given the straight line method, a 5-year useful life, and a salvage value of $1,500 is how much?

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