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This Question: 2 pts 15 of 33 (12 complete) This Test: 66 pts possible Question Help A company purchased furniture on January 1. Its cost

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This Question: 2 pts 15 of 33 (12 complete) This Test: 66 pts possible Question Help A company purchased furniture on January 1. Its cost was $15,600, and it had a residual value of $2,000. Its useful life is determined to be 5 years. Using double-declining balance depreciation, the depreciation for year 1 to the nearest dollar will be: O A. $6,240 O B. $2,720. O C. $5,440. OD. $3,120

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