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Find depreciation expense each year using the straight-line

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Problem 1: Equipment was purchased for $310000. Freight charges amounted to $13900 and there was a cost of $40400 for building a foundation and installing the equipment. It is estimated that the equipment will have a $59900 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be

Option 1: $72860.

Option 2: $60880.

Option 3: $51140.

Option 4: $50020.

Reference no: EM132758340

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