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QUESTION 2 Sophia Company purchased equipment costing $100,000. The equipment has a residual value of $20,000 and an estimated useful life of 5 years. Using

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QUESTION 2 Sophia Company purchased equipment costing $100,000. The equipment has a residual value of $20,000 and an estimated useful life of 5 years. Using the straight-line method, calculate the depreciation for year 1 and year 2. Year 1: Year 2

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