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6 On January 1, Save More Groceries purchased store equipment for...

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Accounting

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On January 1, Save More Groceries purchased store equipment for $21,000. Save More estimates that at the end of its 10 year service life, the equipment will be worth $1,000. During the 10-year period, the company expects to use the equipment for a total of 10,000 hours. Save More used the equipment for 1,500 hours the first year. Required: Calculate depreciation expense of the equipment for the first yoar, using each of the following methods. (Do not round your intermediate calculations.) 2. Double-declining-balance

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