Using the Base Case, calculate total depreciation expense for the year 2023E. Assume that depreciation expense on assets pre-2020E is $7,500 per year. Depreciation on capital expenditures made from 2020E-2024E assumes a 4-year useful life and a salvage value equal to 10% of the original cost.

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$25,500

$21,900

$18,000

$22,500