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What will be the amount of depreciation expense

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Reference no: EM131652390

Problem - On Jan 1st, 2006, a company purchased a fixed asset for $40,034, with a residual value of $4,338, and an estimated life of 5 years.

At the end of 2008, the company believes the asset will have a total useful life of 7 years from the date of purchase and a residual value of $3,221.

What will be the amount of depreciation expense for 2009?

The company uses straight line depreciation. Round your answer to whole dollars.

Reference no: EM131652390

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