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On January 1, 2011, Waterway Industries purchased equipment at a cost of $391000. The equipment...

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Accounting

On January 1, 2011, Waterway Industries purchased equipment at a cost of $391000. The equipment was estimated to have a salvage value of $13000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2018? $48875 $10500 $47250 $10861

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