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Question(s) / Instruction(s):

A company's annual accounting period ends on September 30. During the current year a depreciable asset which cost $16,000 was purchased on January 1. The asset has a $2,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a 4-year life. What is the total depreciation expense for the current year?

a)            $4,000

b)            $3,000

c)            $3,500

d)            $2,625

e)            $875

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