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Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points. The

Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points. The business's year-end is December 31.
Cost of equipment =60000
Useful life in years =20
Residual value =12000
Date purchased = April 1
What is the depreciation expense per year?
What is the depreciation expense per month?
What is the depreciation expense in the year of purchase?

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