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A companys annual accounting period ends on december 31

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A company's annual accounting period ends on December 31. During the current year, a depreciable asset that cost $28,000 was purchased on October 1. The asset has a $1,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a five-year life. What is the total depreciation expense for the current year?

Reference no: EM13589670

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