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What depreciation expense can be shown in the following case:A company's annual accounting period ends on December 31.
What depreciation expense can be shown in the following case:A company's annual accounting period ends on December 31. During the current year a depreciable asset which cost $24,000 was purchased on October 1. The asset has a $1,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a 6-year life. What is the total depreciation expense for the current year?
a. $3,833.33
b. $958.33
c. $4,000.00
d. $1,000.00
e. $1,041.67