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T-Mitch calculates and records depreciation using the straight line method. A piece of machinery was purchased on January 1st and depreciation on this asset needs

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T-Mitch calculates and records depreciation using the straight line method. A piece of machinery was purchased on January 1st and depreciation on this asset needs to be recorded on December 31 st to ensure financial statements are accurate. Based on the following information, how much depreciation expense should be recognized on December 31st of Year 1 ? Do NOT use dollar signs or commas in your

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