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Peoples Corporation purchased a building on December 29,2018 that cost $1,500,000 and occupled it on January 2, 2019. The owner estimated that the building would

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Peoples Corporation purchased a building on December 29,2018 that cost $1,500,000 and occupled it on January 2, 2019. The owner estimated that the building would last 20 years with a salvage value of $200,000 using straight-line depreciation. In early 2022, Mr. Peoples learned that due to a permanent highway closure, the company needs to relocate at the end of 2024 . He believes that the salvage value of the building at that time will be $600,000. Compute the amount of depreciation to record during years 2019, 2020, 2021 and 2022, and each of the two years thereafter. (Round your final answer to the nearest dollar. Show the computation)

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