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On October 1, Organic Farming purchases wind turbines for $300,000. The wind turbines are expected to last five years, have a salvage value of $36,000,
On October 1, Organic Farming purchases wind turbines for $300,000. The wind turbines are expected to last five years, have a salvage value of $36,000, and be depreciated using the straight-line method.
- Compute depreciation expense for the last three months of the first year.
- Compute depreciation expense for the second year.
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