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please help in solving! On January 2 Year 1, Richardson Company purchased equipment conting $39,600. The equipment has an estimated salvagn value of $5,760 and

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On January 2 Year 1, Richardson Company purchased equipment conting $39,600. The equipment has an estimated salvagn value of $5,760 and an estimated useful life of 12 years. Richardson Company uses straight-line depreciation on January 5 of Year 7 new formation suggests that the equipment will have a total useful for 10 years and a revised salvage value of $3.900 Required: 1. Compute depreciation expense for Year? 2. Compute the book value of the element at the end of Year 2 BD 1. Depreciation expense for Year ? 2 Book value at the end of Year 7: 50 SD

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