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On January 4,2023 , Mary's Cafe acquired equipment for $500,000. The estimated life of the equipment is 8 years or 60,000 hours. The estimated residual

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On January 4,2023 , Mary's Cafe acquired equipment for $500,000. The estimated life of the equipment is 8 years or 60,000 hours. The estimated residual value is $40,000. What is the balance in the Accumulated Depreciation account at December 31, 2024 if the straight-line method is used? A. $62,500 B. $40,000 C. $57,500 D. $115,000

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