A company purchases equipment for $62,500 on January 1.It has an estimed residualvalue of $2,800 and an estimated useful life of 5 years.The company…

A company purchases equipment for $62,500 on January 1.  It has an estimed residualvalue of $2,800 and an estimated useful life of 5 years.  The company uses the decliningbalance method of depreciation.  Determine the amount of depreciation expense for the FIFTH year.

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