On July 1,2023, Monty Co. purchased some equipment that initially cost $53000. Additional costs included...

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Accounting

On July 1,2023, Monty Co. purchased some equipment that initially cost $53000. Additional costs included freight costs $250, non-refundable taxes $6400, and installation $300. Estimated residual value is $2400. The company uses a straight-line rate of 10%. Montys fiscal year end is June 30. Depreciation expense for the 2024 fiscal year end is
Select answer from the options below
$6200.
$5755.
$5935.
$5960.

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