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What is the depreciation expense that company would report

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Problem 1: Miko, Inc. sold a building for $200,000 in the eighth year of its ten-year estimated life. The building was originally purchased for $450,000. The asset was depreciated using the straight-line method. What is the depreciation expense that the company would report in its eighth-year depreciation journal entry?

Group of answer choices

A: $360,000
B: $450,000
C: $45,000
D: No accumulated depreciation is reported in the year of sale.

Reference no: EM132772831

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