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On November 1, 2016, Crane Company places a new asset into service. The cost of the asset is $88000 with an estimated 10-year life and

On November 1, 2016, Crane Company places a new asset into service. The cost of the asset is $88000 with an estimated 10-year life and $8000 salvage value at the end of its useful life. What is the depreciation expense for 2017 if Crane Company uses the straight-line method of depreciation?

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