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On November 8, Jones purchased equipment costing $29, 300. The equipment has an estimated salvage value of $2, 480 and an estimated useful life of

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On November 8, Jones purchased equipment costing $29, 300. The equipment has an estimated salvage value of $2, 480 and an estimated useful life of 8 years. Jones calculates depreciation to the nearest month. Compute the depreciation expense for the first two years using the sum-of-the-years' digits method

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