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Question(s) / Instruction(s):

Lomax Enterprises purchased a depreciable asset for $22,000 on March 1, 2008. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset\'s salvage value is $2,000, what will be the amount of depreciation expense Lomax Enterprises should recognize in 2011?

a)            $5,500.00

b)            $5,000.00

c)            $20,000.00

d)            $4,166.67

e)            $19,166.67

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