A company purchases machinery for $10,000 with a useful life of 5 years and an expected salvage value of $2,000. Calculate the annual depreciation expense using the straight-line method.

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A company purchases machinery for $10,000 with a useful life of 5
years and an expected salvage value of $2,000. Calculate the annual
depreciation expense using the straight-line method.
Transcribed Image Text:A company purchases machinery for $10,000 with a useful life of 5 years and an expected salvage value of $2,000. Calculate the annual depreciation expense using the straight-line method.
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