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Compute the depreciation expense to be recognized each year

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Reference no: EM132093404

Question - On August 3 Cinco Construction purchased special-purpose equipment at a cost of $2,560,100. The useful life of the equipment was estimated to be eight years, with an estimated residual value of $57,980.

Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the straight-line depreciation method (half-year convention).

Reference no: EM132093404

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