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ABC Corp. is purchasing new equipment at a cost of $410,000 which has a CCA...

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Finance

ABC Corp. is purchasing new equipment at a cost of $410,000 which has a CCA rate of 15%. What will be the depreciation expense that will be claimed in the first year?

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\table[[Cash,Debit,Credit],[Accounts receivable,$19,100,],[Inventory,10,200,],[Prepaid rent,15,620,],[Equipment,480,],[Accumulated depreciation-equipment,16,705,],[Accounts payable,,1,800],[Unearned service revenue,,4,100],[Common stock,,765],[Retained earnings,,10,300],[Dividends,,33,050],[Sales revenue,9,600,],[Rent expense,,129,600],[Cost of goods sold,15,760,],[Salaries and...

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