Kansas Enterprises Purchased Equipment For 80 500 On January 1 2015 The Equipmen

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Kansas Enterprises purchased equipment for $80,500 on January 1, 2015. The equipment is expected to have a five-year life, with a residual value of $7,500 at the end of five years.

Using the straight-line method, depreciation expense for 2015 would be:

 
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