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Equipment with a cost of $150,168 has an estimated residual value of $7,959 and an...

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Accounting

Equipment with a cost of $150,168 has an estimated residual value of $7,959 and an estimated life of 7 years or 12,574 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used for 3,418 hours?

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