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Sheridan Company purchased a depreciable asset for $554000. The estimated salvage value is $29000, and the estimated useful life is 8000 hours. Carson used the

Sheridan Company purchased a depreciable asset for $554000. The estimated salvage value is $29000, and the estimated useful life is 8000 hours. Carson used the asset for 1600 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset?

$116600

$525000

$105000

$52500

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