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Equipment with a useful life of 5 years and a residual value of $6,000 was purchased on January 3, 2006, for $48,500. The machine was sold on January 5, 2011, for $13,000.

a. What is the book value of the machine on January 5, 2011, assuming straight-line depreciation is used?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976268

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