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XYZ Company buys a building for $2,000,000 on April 1, 2019. Its estimated useful life...

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Accounting

XYZ Company buys a building for $2,000,000 on April 1, 2019. Its estimated useful life in the business is 20 years, after which it will be sold for an estimated residual value of $400,000. Under Straight line method of depreciation, depreciation expense for 2019 will be:Select one:a. $100,000.b. $20,000.c. $60,000.d. $80,000.

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