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Question(s) / Instruction(s):

A company purchased factory equipment on April 1, 2002 for $40,000.  It is estimated that the equipment will have a $5,000 salvage value at the end of its 10-year useful life.  Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2002 is

a)            $4,000.

b)            $3,500.

c)            $2,625.

d)            $3,000.

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