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Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to...

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Accounting

Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful life of three years, or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7,600 hours during Year 1,6,000 hours in Year 2, and 4,400 hours in Year 3.

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