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On September 1, Emil Rovey purchased a vehicle for $38,000 with a residual value of $4,000. The estimated useful life is 8 years and the

On September 1, Emil Rovey purchased a vehicle for $38,000 with a residual value of $4,000. The estimated useful life is 8 years and the company uses the straight-line method. What is the depreciation expense for the year ended December 31?

Multiple Choice

$1,583

$1,063

$1,417

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