Equipment was purchased for $90,000.Freight charges amounted to $4,200 and there was a cost of $12,000 for building a foundation and installing the equipment.It is estimated that the equipment will have a $18,000 residual value at the end of its 5-year useful life.Depreciation expense each year using the straight-line method will be

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The Answer of Equipment was purchased for $90,000.Freight charges amounted to $4,200 and there was a cost of $12,000 for building a foundation and installing the equipment.It is estimated that the equipment will have a $18,000 residual value at the end of its 5-year useful life.Depreciation expense each year using the straight-line method will be

Equipment Was Purchased for $90,000