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On January 2, 20XX, a firm purchased equipment for $8,500. Depreciation expense for 20XX, given the straight line method, a 5-year useful life, and salvage

On January 2, 20XX, a firm purchased equipment for $8,500. Depreciation expense for 20XX, given the straight line method, a 5-year useful life, and salvage value of $1,500 is

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