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Sheridan Company purchased a depreciable asset for $688000 on April 1, 2023. The estimated salvage value is $70000, and the estimated useful life is 5

Sheridan Company purchased a depreciable asset for $688000 on April 1, 2023. The estimated salvage value is $70000, and the estimated useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2026 when the asset is sold? $247680$288960$381100$339100

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