What is the total depreciation expense for the current year


A company's annual accounting period ends on December 31. During the current year, a depreciable asset that cost $28,000 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 five-year life. What is the total depreciation expense for the current year?

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Accounting Basics: What is the total depreciation expense for the current year
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