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A Building Was Purchased on August 1 for $450,000

Question 78

Multiple Choice

A building was purchased on August 1 for $450,000.It has a salvage value of $38,000 and a useful life of 35 years.To the nearest dollar,how much will the depreciation expense for the building be for the first year ended December 31,using the straight-line method?


A) $12,857
B) $5,357
C) $4,905
D) $11,771

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