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On January 2, 2023, Kaiman Corporation acquired equipment for $700,000. The estimated life of the equipment is 5 years or 60,000 hours. The estimated residual

On January 2, 2023, Kaiman Corporation acquired equipment for $700,000. The estimated life of the equipment is 5 years or 60,000 hours. The estimated residual value is $40,000. What is the balance in Accumulated Depreciation on December 31, 2024, if Kaiman Corporation uses the straight-line method of depreciation? A. $280,000 OB. $140,000 C. $132,000 D. $264,000

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