24. On January 1, 20X1, Emilys Boutique purchased equipment for $125,000 which is expected to...
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24. On January 1, 20X1, Emilys Boutique purchased equipment for $125,000 which is
expected to have a 10-year useful life and a $5,000 salvage value. Using straight-line depreciation, what is the accumulated depreciation on this equipment through December 31, 20X3?
a. $12,000.
b. $12,500.
$36,000.
$37,500.
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