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What expense would be using the straight-line method

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Kansas Enterprises purchased equipment for $81,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $7,500 at the end of ten years.

Problem 1: Using the straight-line method, depreciation expense for 2021 would be:

Multiple Choice

Option 1: $7,350.

Option 2: $8,850.

Option 3: $16,200.

Option 4: $8,100.

Reference no: EM132688916

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