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Concord Corporation constructed a building at a cost of $21,000,000. Weighted-average accumulated expenditures were $13,200,000,...

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Accounting

Concord Corporation constructed a building at a cost of $21,000,000. Weighted-average accumulated expenditures were $13,200,000, actual interest was $1,240,000, and avoidable interest was $71,000. If the salvage value is $1,100,000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is

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