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Equipment Was Acquired at the Beginning of the Year at a Cost

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Equipment was acquired at the beginning of the year at a cost of $75,000.The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of $7,500.
Equipment was acquired at the beginning of the year at a cost of $75,000.The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of $7,500.

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(a)$11,250 [(Cost - Residual Value) / Us...

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