Stine Company purchased machinery with a list price of $64,000. They were given a 10% discount

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Stine Company purchased machinery with a list price of $64,000. They were given a 10% discount by the manufacturer. They paid $400 for shipping and sales tax of $3,000. Stine estimates that the machinery will have a useful life of 10 years and a residual value of $20,000. If Stine uses straight-line depreciation, annual depreciation will be

 

 

$3,760.

 

$4,072.

 

$4,100.

 

$6,100.
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