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Kansas Enterprises purchased equipment for $81,500 on January 1, 2021. The equipment is expected to...

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Accounting

Kansas Enterprises purchased equipment for $81,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $8,550 at the end of ten years. Using the straight-line method, depreciation expense for 2021 would be: Multiple Choice $7,295. $9,005. $16,300. $8,150.

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