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Question
equipment was purchased for $51,000 on january 1, 2011. freight charges amounted to $2,100 and there was a cost of $6,000 for building a foundation and installing the equipment. it is estimated that the equipment will have a $9,000 salvage value at the end of its 5-year useful life. what is the amount of accumulated depreciation at december 31, 2012, if the straight-line method of depreciation is used?
a.$20,040
b.$10,020
c.$8,580
d.$17,160
Answer
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