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Red Enterprises purchased a vehicle for $ 3 5 0 0 0 . A further $ 5 0 0 0 was spent to prepare it

Red Enterprises purchased a vehicle for $35000. A further $5000 was spent to prepare it for use. The useful life of the vehicle is expected to be 15 years, but Red Enterprises expects to replace it with a better model in seven years' time. The salvage value is estimated to be $6 500 after 15 years and $15000 at the end of seven years. What is the depreciation for the first two years, using the declining-balance method of depreciation (rounded to the nearest dollar)?

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