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On October 1, 2014, Planet Communications purchased a new piece of equipment that cost $40,000. The estimated useful life is ten years and estimated residual

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On October 1, 2014, Planet Communications purchased a new piece of equipment that cost $40,000. The estimated useful life is ten years and estimated residual value is $6,000. What is the depreciation expense for 2014 if Planet uses the straight-line method? O A $1,000 O B. $3,400 O C. $4,000 O D. $850

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