Assignment Problem: Calculating Partial-Year Depreciation
On February 28, 2017, Rural Tech Support purchased a copy machine for $53,400. Rural Tech Support expects the machine to last for six years and to have a residual value of $3,000.
Compute depreciation expense on the machine for the year ended December 31, 2017, using the straight-line method.
Begin by selecting the formula to calculate the company's depreciation expense on the machine for the year ended December 31, 2017.
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