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Fed Question 16 0 / 1 pts Equipment was purchased for $15,000. Freight charges amounted to $700 and there was a cost of $2,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $3,000 salvage value (residual value) at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be $3,540. $2,400. $2,460 None of the options listed $2,940