4. Rahul has purchased a new piece of equipment for his jewellery business. The purchase...
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Accounting
4. Rahul has purchased a new piece of equipment for his jewellery business. The purchase price is 6,900, and Rahul expects to be able to use the equipment for 7 years, at which, it will have a scrap value of 700. What is the annual depreciation expense of the equipment using the straight-line method?
A: 885.71
B: 985.71
C: 700.00
D: 690.00
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