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Sheffield Company purchased a new van for floral deliveries on January 1, 2020. The van cost $68000 with an estimated life of 5 years and

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Sheffield Company purchased a new van for floral deliveries on January 1, 2020. The van cost $68000 with an estimated life of 5 years and $13900 salvage value at the end of its useful life. The double-declining balance method of depreciation will be used. What is the depreciation expense for 2020? $27200 $13600 $10820 $21640

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