Carolina Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to...
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Accounting
Carolina Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $5,000 at the end of five years. Using the straight-line method, depreciation expense for 2021 would be: A) $12,000. B) $11,000. C) $60,000. D) None of these
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