Angels Inc. purchases a piece of equipment for $65,000. The equipment has an expected useful life of five years. Its residual value is estimated to be $5,000. Assuming the firm uses the straight-line depreciation method, what is the depreciation expense on the equipment in the fifth full year? Select one: a. $10,000 b. $12,000 c. $11,000 d. $13,000

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A: Hi student Since there are multiple subparts, we will answer only first three subparts. Fixed assets…

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