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On October 1.2021, Bramble Company places a new asset into service. The cost of the asset is $118000 with an estimated 5 -year Iife. and $24000 salvage value at the end of its useful life. What is the depreciation expense for 2021 if Bramble Company uses the straight-4ine methed of depreciation? $23600$4700$11800$5900