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Simple Simon Inc. had accumulated depreciation of $95,000 at the end of 2020, and at the end of 2019, this figure was $75,000. Earnings
Simple Simon Inc. had accumulated depreciation of $95,000 at the end of 2020, and at the end of 2019, this figure was $75,000. Earnings before interest and taxes for 2020 were $950,000, and EBIT for 2019 was $875,000. Assuming that no assets were sold in 2020, what was the amount of depreciation expense for 2020?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
