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A company purchased a van at a cost of $42,000 and expects it can be...

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Accounting

A company purchased a van at a cost of $42,000 and expects it can be sold for $6,000 after 120,000 miles of service. Assuming the units-of-production method is used and the van is driven for 24,000 miles during the first year, the depreciation at the end of the first year would be

a.$1,200.

b.$4,200.

c.$12,000.

d.$7,200.

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