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What is the straight-line depreciation for one year

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Don's Landscaping Service purchased a backhoe for $12,000. It has a useful life of five years and a residual value of $1,750.

Problem 1: Based on this information, what is the straight-line depreciation for one year for this asset?

Option 1: $10,250

Option 2: $2,400

Option 3: $1,025

Option 4: $2,050

Reference no: EM132625295

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