MyCo uses the straight-line method. Assets purchased between the 1st and 15th are depreciated for...
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MyCo uses the straight-line method. Assets purchased between the 1st and 15th are depreciated for the entire month; assets purchased after the 15th as though they were acquired the following month. On April 22, 20X1, MyCo purchases for $50,000 equipment that it expects to last for 10 years and to have a residual value of $5,000. What is 20X2 depreciation expense for the equipment?
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