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El Tapitio purchased restaurant furniture on September 1, 2024, for $48,000. Residual value at the...

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Accounting

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El Tapitio purchased restaurant furniture on September 1, 2024, for $48,000. Residual value at the end of an estimated 10 -year service life is expected to be $6,300. Calculate depreciation expense for 2024 and 2025, using the straight-line method and assuming a December 31 year-end. Note: Do not round intermediate calculations

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