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A companys 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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