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What is the depreciation using straight-line method

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Question 1: On 1/7/19, ABC bought a van for $25,000. ABC estimates the useful life is 5 yrs and the residual value is $5,000. After 3 years, ABC determines that the van will be useful for 4 more years (not 2). What is the depreciation for 2023 using straight-line method.

Option A) $4,000

Option B) $3,250

Option C) $2,000

Option D) $1,143

Reference no: EM132544026

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