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Sullivan Ranch Corporation has purchased a new tractor. The following information is given: S 150,000 S 10,000 Cost: Estimated Residual: Estimated Life in years: Estimated

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Sullivan Ranch Corporation has purchased a new tractor. The following information is given: S 150,000 S 10,000 Cost: Estimated Residual: Estimated Life in years: Estimated Life in hours: Actual Hours: 1200 Year 1 Year 2 Year 3 Year 4 360 270 350 220 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts Year Book Value Ex Total

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