On April 2, 2014, Victor, Inc. acquired a new piece of filtering equipment. The cost...
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Accounting
On April 2, 2014, Victor, Inc. acquired a new piece of filtering equipment. The cost of the equipment was $160,000 with a residual value of $20,000 at the end of its estimated useful lifetime of 4 years. Refer to the information above. Assume that in its financial statements, Victor uses straight-line depreciation and the half-year convention. Depreciation recognized on this equipment in 2014 and 2015 will be:
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