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On January 2, 2019, Kaiman Corporation acquired equipment for $700,000. The estimated life of the equipment is 5 years or 80,000 hours. The estimated residual

On January 2, 2019, Kaiman Corporation acquired equipment for $700,000. The estimated life of the equipment is 5 years or 80,000 hours. The estimated residual value is $40,000. What is the balance in Accumulated Depreciation on December 31, 2020, if Kaiman Corporation uses the Straight line method of depreciation?

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