Tesla Inc. purchased manufacturing equipment for $500,000 on January 1st, 2023. The equipment has an...
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Accounting
Tesla Inc. purchased manufacturing equipment for $500,000 on January 1st, 2023. The equipment has an estimated useful life of 8 years and no salvage value. Tesla Inc. applies the straight-line depreciation method. Calculate the depreciation expense for the year ended December 31st, 2023, using the matching principle.
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