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Compute the depreciation expense

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Reference no: EM132561997

Question - On October 1, 2021, Holt Company places a new asset into service. The cost of the asset is $120,000 with an estimated 5-year life and $30,000 salvage value at the end of its useful life. Compute the depreciation expense for 2021 if Holt Company uses the straight line method of depreciation?

Reference no: EM132561997

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