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On April 30, 2014, Tilton Products purchased machinery for $88,000. The useful life of this...

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Accounting

On April 30, 2014, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, with an $8,000 residual value.

Assume that in its financial statment, Tilton Products uses straight-line depreciation and the half-year convention. Depreciation expense recognized on this machinery in 2014 and 2015 will be:

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