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Depreciation Expense
During 2014, Bush Company acquired three assets with the following costs, estimated useful lives, and estimated salvage values:
Date
Asset
Cost Estimated
Useful Life Estimated
Salvage Value February 27Truck$25,120 4 years$4,000 June 22Computer33,000 6 years 3,000 November 6Building302,000 30 years 50,000 The company uses the straight-line method to depreciate all assets and computes depreciation to the nearest month. For example, the computer system will be depreciated for six months in 2014.
Required: Compute the depreciation expense that Bush will record on each of the three assets for 2014. Do not round intermediate calculations. If required, round your answers to the nearest dollar.
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