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 . Oriole Company purchased equipment on January 1, 2019, for...

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Oriole Company purchased equipment on January 1, 2019, for $89,440 with an estimated salvage value of $24,960 and estimated useful life of 8 years. On January 1, 2021, Oriole decided the equipment will last 12 years from the date of purchase. The salvage value is still estimated at $24,960. Using the straight-line method the new annual depreciation will be: New annual depreciation $

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