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A company purchased a new delivery van at a cost of $61,000 on July 1....

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Accounting

A company purchased a new delivery van at a cost of $61,000 on July 1. The delivery van is estimated to have a useful life of 5 years and a salvage value of $4,900. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31? Multiple Choice $5,880. $5,610. $6,590. $11,220. $6,100.

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