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Practice Problems 8. On January 1st, Year 1, Oozma Treasures bought land for $15,000. The land has an estimated salvage value of $6,000 and an

Practice Problems 8. On January 1st, Year 1, Oozma Treasures bought land for $15,000. The land has an estimated salvage value of $6,000 and an expected life of 5 years. The company uses straight line depreciation. What will the depreciation expense be in year 3

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