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Kansas Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to...

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Accounting

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Kansas Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $6,300 at the end of ten years, Using the straight line method, depreciation expense for 2021 would be: Multiple Choice $7170 $8,430 $15,600 $7,800

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