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Farr Company purchased a new van for floral deliveries on January 1, 2012. The van cost $48,000 with an estimated life of 5 years and $12,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2012?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975836

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