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Question 31 3 pts The company purchased a piece of equipment for $65,000 on May 1, 2020. Its estimated use life is 5 years, at

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Question 31 3 pts The company purchased a piece of equipment for $65,000 on May 1, 2020. Its estimated use life is 5 years, at which time its scrap value is estimated to be $5,000. What is the depreciation expense for the equipment for 2020? $8.00 $8,000 $13,000 $12,000 $8,667

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