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Multiple Choice Question 86 Equipment was purchased for $290000. Freight charges amounted to $13000 and...

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Multiple Choice Question 86 Equipment was purchased for $290000. Freight charges amounted to $13000 and there was a cost of $39000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $59000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be $47600. $68400. $45200. $56600

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