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A company bought a machine for $16,000. It is expected to be used for 5...

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Accounting

A company bought a machine for $16,000. It is expected to be used for 5 years then have a salvage value of $1,000. What is the annual amount of depreciation if the straight-line method is used?

a. $3,200

b. $3,750

c. $3,000

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