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    Key Information of Depreciation Expense

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    Equipment that cost $300,000 and had a book value of $156,000 was sold for $180,000. Data from the comparative balance sheets are:
    12/31/08 12/31/07
    Equipment $2,160,000 $1,950,000
    Accumulated Depreciation 660,000 570,000

    Depreciation expense for 2008 was
    A) $258,000.
    B) $234,000.
    C) $54,000.
    D) $36,000.

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    Depreciation
    Equipment that cost $300,000 and had a book value of $156,000 was sold for $180,000. Data from the comparative balance sheets are:

    12/31/08 ...

    Solution Summary

    This solution is comprised of a detailed explanation to calculate the depreciation expense.

    $2.19

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