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Reader Inc purchased a machine costing $80,000 on January 3rd. The machine is expected to...

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Accounting

Reader Inc purchased a machine costing $80,000 on January 3rd. The machine is expected to last 10 years and 10,000 hours with a salvage value of $4,000. During the first year the machine was used 1,800 hours. What is annual depreciation if Reader uses the straight-line method?

$13,680

$7,600

$13,500

$8,000

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