On July 1, 2020, *** Inc. acquired equipment for concert performances at a cost of...
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On July 1, 2020, *** Inc. acquired equipment for concert performances at a cost of $18,700. The band estimates it will use this equipment for 5 years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $1,700. Compute the depreciation for the month using the straight-line method (round your answer to the nearest whole dollar, for example, $103.739 would be 104).
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