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On November 1, 2024, Sunland Marine places a new asset into service. The cost of the asset is $99500 with an estimated 10-year life and

On November 1, 2024, Sunland Marine places a new asset into service. The cost of the asset is $99500 with an estimated 10-year life and $11500 salvage value at the end of its useful life. What is the depreciation expense for 2025 if Sunland Marine uses the straight- line method of depreciation? $8800. $2200. $4975. O $1467

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