A machine was purchased for $30,000, having a useful life of 10 years, and a residual value of $4,000. Compute the annual depreciation expense using the straight-line method.
A) $3,000
B) $3,400
C) $2,600
D) $5,200

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The Answer of A machine was purchased for $30,000, having a useful life of 10 years, and a residual value of $4,000. Compute the annual depreciation expense using the straight-line method.
A) $3,000
B) $3,400
C) $2,600
D) $5,200

A Machine Was Purchased for $30,000, Having a Useful Life