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Tan Chin Company purchased a piece of equipment that cost $205,000 on January 1, 2018. The equipment consisted of three incompetents: Component Cost Residual ValueEstimated

Tan Chin Company purchased a piece of equipment that cost $205,000 on January 1, 2018. The equipment consisted of three incompetents:

ComponentCost Residual ValueEstimated Useful Life

ABC $70,000 $6,000 10 years

DEF 50,000 4,000 5 years

XYZ 85,000 7,000 12 years

CalculateTan Chin's depreciation expense for this equipment at December 31, 2018.

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