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Question - On October 1, 2015, Holt Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life and $20,000 salvage value at the end of its useful life.
What is the depreciation expense for 2015 if Holt Company uses the straight-line method of depreciation?
a. $2,000
b. $12,000
c. $3,000
d. $4,000
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