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On June 1, 2022, Duncan Inc. purchased equipment for $65,000. The equipment had an estimated...

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Accounting

On June 1, 2022, Duncan Inc. purchased equipment for $65,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $5,000. Assume the company employs the straight-line method of depreciation. Calculate the amount of accumulated depreciation on the equipment shown in the balance sheet at December 31, 2027. Do not use decimals in your answer.

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