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Oxford Manufacturing, Inc., purchased new equipment totaling $648,000. Shipping charges were $2200 and installation amounted to $1800. The equipment is expected to last 4 years

Oxford Manufacturing, Inc., purchased new equipment totaling $648,000. Shipping charges were $2200 and installation amounted to $1800. The equipment is expected to last 4 years and have a residual value of $33,000. Oxford uses the straight-line method of depreciation. Determine the accumulated depreciation at the end of the third year

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