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Based on the information in Table 3-1 below, assuming that no assets were disposed of during 2008, the amount of depreciation expense was:

Based on the information in Table 3-1 below, assuming that no assets were disposed of during 2008, the amount of depreciation expense was:
a) $375
b) $3,500
c) $2,500
d) $500

Table 3-1
Jones Company Financial Information
December 2007 December 2008

Net income $2000 $5000
Account receivable 750 750
Accumulated depreciation 1000 1500
Common Stock 4500 5000
Paid-in capital 7500 8000
Retained earnings 1500 2500
Accounts Payable 750 750
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