Question: First, we will start with annual depreciation. We will always use straight-line depreciation in this course Consider a firm that purchased an equipment for $321,751

First, we will start with annual depreciation. We will always use straight-line depreciation in this course

Consider a firm that purchased an equipment for $321,751 and incurred an additional $17,996 for shipping and installation. What will be the annual depreciation expense if the equipment is expected to last 9 years and have a salvage value of $7,474 (using straight-line depreciation)? round your answer to two decimals

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