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Find the amount of the depreciation adjustment

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Question - Hope for the Homeless purchased kitchen equipment for $47,000 with a residual value of $17,000 and a life expectancy of 5 years. Using straight-line depreciation, find the amount of the depreciation adjustment for the first year?

A) $5,000.

B) $6,000.

C) $6,400.

D) $4,000.

Reference no: EM132624067

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