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Tesla Inc. acquired solar panels for $1,200,000 on July 1st, 2023. The solar panels are...

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Accounting

Tesla Inc. acquired solar panels for $1,200,000 on July 1st, 2023. The solar panels are expected to have a useful life of 15 years with no residual value. Tesla Inc. follows the straight-line depreciation method. Compute the depreciation expense for the fiscal year ending December 31st, 2023, adhering to the matching principle.

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