The price of a public address system purchased by a local town hall was $42,500. It cost $2,100 for delivery. The salvage value at the end of 4 years is $7,500. Using the straight-line depreciation method, calculate the annual depreciation for year 3.
A) $9,324.50
B) $10,365.75
C) $11,368.20
D) $9,275.00
Correct Answer:
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