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Sheridan Limited purchased a computer for $9,000 on January 1, 2023. Straight-line depreciation is used for the computer, based on a five-year life and a

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Sheridan Limited purchased a computer for $9,000 on January 1, 2023. Straight-line depreciation is used for the computer, based on a five-year life and a $700 residual value in 2025 , the estimates are revised. Sheridan now expects the computer will be used until December 31,2026 , when it can be sold for $600. Calculate the 2025 depreciation expense. Depreciation expense

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