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Your Company purchased equipment that cost $55,000 cash on January 1, 2019. The equipment had...

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Accounting

Your Company purchased equipment that cost $55,000 cash on January 1, 2019. The equipment had an expected useful life of six years and an estimated salvage value of $4,000. Your Company depreciates its assets under the double declining balance method. Accumulated depreciation at the beginning of 2020 was $18,333. What was depreciation expense for 2020? (Round to nearest dollar if necessary.)

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