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A company bought a piece of equipment for $48,200 and expects to use it for eight years

A company bought a piece of equipment for $48,200 and expects to use it for eight years. The company then plans to sell it for $4,300. The company has already recorded depreciation of $41,766.08. Using the double-declining-balance method, what is the company’s annual depreciation expense for the upcoming year? (Round your answer to the nearest whole dollar amount.)

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