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On September 1, 2018, speaker company purchased equipment for $66,000 and installation costs totaled $5,000. The equipment has an estimated useful life of 8 years

On September 1, 2018, speaker company purchased equipment for $66,000 and installation costs totaled $5,000. The equipment has an estimated useful life of 8 years and an estimated slavage value of $3,000. if the comnay uses the straight line method, depreciation expense for 2018 would be

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