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please explain step by step how to get the answer On January 1, 2019, Gracie Co purchased $12,000 of equipment. The company estimates the equipment

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On January 1, 2019, Gracie Co purchased $12,000 of equipment. The company estimates the equipment to have a useful life of 5 years and a salvage value of $2,000. Assume the company uses the double declining balance method of depreciation Calculate the amount of depreciation expense in 2020. You Answered Correct Answers 2,880 $2,880 $2880 2880

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