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On July 1, 2021, Ivanhoe Company purchases equipment for $20,400. The company uses straight-line depreciation. It estimates the equipment will have a 10-year life.

On July 1, 2021, Ivanhoe Company purchases equipment for $20,400. The company uses straight-line depreciation. It estimates the equipment will have a 10-year life. Ivanhoe Company has a December 31 year end.

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