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On March 31 of 2021, The Indian Bistro restaurant buys a car for $40,000 to do food deliveries. They estimate it's useful life to be
On March 31 of 2021, The Indian Bistro restaurant buys a car for $40,000 to do food deliveries. They estimate it's useful life to be 5 years with a value of $9,000 at the end of that time. Their accountant advises them to use straight line depreciation, and apply the half year rule. What is the Depreciation expense in the first year?
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