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Question 24 (1 point) Machinery costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4 years was purchased on October

Question 24 (1 point) Machinery costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4 years was purchased on October 31, 20X1. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 20X1? $290 $580 $3,480 $1,080

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