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Plum Corporation purchases new office equipment for $5,000,000 on January 1, 2021. Plum estimates that the equipment has a $200,000 residual value and a useful
Plum Corporation purchases new office equipment for $5,000,000 on January 1, 2021. Plum estimates that the equipment has a $200,000 residual value and a useful life of 6 years. Plum uses the straight-line method to record depreciation. Assume that on January 1, 2024, after three years, Plum estimates that the equipment's remaining useful life is 8 years and residual value is $120,000. A depreciation schedule would show ________ depreciation expense for 2024.
$800,000
$610,000
$496,000
$443,636
$310,000
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