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The Rogers Company uses the straight-line method to depreciate its equipment. On May 1, 2010, the company purchased some equipment for $200,000. The equipment is
The Rogers Company uses the straight-line method to depreciate its equipment. On May 1, 2010, the company purchased some equipment for $200,000. The equipment is estimated to have a useful life of ten years and a salvage value of $20,000. If depreciation is to be recorded for each month the equipment is owned, how much depreciation expense should Rogers record for the equipment in the adjusting entry on December 31, 2010?
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