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What will be the amount of accumulated depreciation on asset

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Problem

Lomax Enterprises purchased a depreciable asset for $25,000 on March 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,600, what will be the amount of accumulated depreciation on this asset on December 31, Year 4?

Reference no: EM131784225

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