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MacGyver Company bought equipment on January 3, 20X1, for $34,600. At the time of purchase,...

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Accounting

MacGyver Company bought equipment on January 3, 20X1, for $34,600. At the time of purchase, the equipment was estimated to have a useful life of 6 years and a salvage value of $1,120. Using the straight-line method, the amount of one year's depreciation is $1,120 $5.767 $465 $5,580

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