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Northport's Sandwiches acquired equipment on April 1,2024, for $15,500. The company estimates a residual value...

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Accounting

Northport's Sandwiches acquired equipment on April 1,2024, for $15,500. The company estimates a residual value of $1,500 and a five-year service life.
Required:
Calculate depreciation expense using the straight-line method for 2024 and 2025, assuming a December 31 year-end.
\table[[,2024,2025],[Depreciation expense,,]]
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