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Question(s) / Instruction(s):

A companys annual accounting period ends on December 31. During the current year a depreciable asset which cost $24,000 was purchased on October 1. The asset has a $1,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a 6-year life. What is the total depreciation expense for the current year?

a.            $1,000.00

b.            $4,000.00

c.             $3,833.33

d.            $958.33

e.            $1,041.67

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