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Question(s) / Instruction(s):

A machine was purchased for $32,000 on April 1st. It has a useful life of 5 years and a residual value of $4,000. What is the depreciation expense for the first fiscal year ending on December 31st under the straight-line method?

A) $5,600

B) $1,400

C) $4,200

D) $6,400


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