A machine is purchased by the Dunnagin Company for $18,000. Dunnagin pays $6,000 in cash and gives a…

A machine is purchased by the Dunnagin Company for $18,000. Dunnagin pays $6,000 in cash and gives a note payable for $12,000 that is payable in installments over a four-year period. Dunnagin estimates that the machine could physically last for 12 years even though Dunnagin expects to use it in its business for only 9 years. The period of time to be used by Dunnagin for depreciation purposes is: 4 years. 5 years. 9 years. 12 years.

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