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Wayne Co. purchased $40,000 of equipment with a savage value of $5000 and a useful life of nine years on August 15, 2016. If the

Wayne Co. purchased $40,000 of equipment with a savage value of $5000 and a useful life of nine years on August 15, 2016. If the company used sum-of-the-years'-digits depreciation computed to the nearest whole year, depreciation expense for 2017 was

a. $8000

b. $7111

c. $7000

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