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15-02-2024
Business

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Lambert Company acquired machinery costing 110,000 on January 2, 2019. At that time, Lambert estimated that the useful life of the equipment was 6 years and that the residual value would be 1,000 at the end of its useful life. Compute depreciation expense for this asset for 2019, 2020, and 2021 using the straight-line method?

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