Jantz corporation purchased a machine on july 11998 for

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Jantz corporation purchased a machine on july 1,1998, for $250,000. The machine was estimated to have a useful life of 10 years with an estimated salvage value of $14,000. During 2001, it became apparent that the machine would become uneconomical after December 31,2005, and that the machine would have no scrap value. Jantz uses straight line depreciation. What would be the charge for depreciation in 2001 under generally accepted accounting principles?

Reference no: EM13586915

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