Equipment with a cost of $698,500 has an estimated residual value of $63,500, has an estimated useful life of 25 years, and is depreciated by the straight-line method. Determine the amount of the annual depreciation.

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31-07-2024
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Equipment with a cost of $698,500 has an estimated residual value of $63,500, has an estimated useful life of 25 years, and is depreciated by the straight-line method. Determine the amount of the annual depreciation.

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