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Overhead Industries acquired a piece of machinery on January 3, 2005. The total cost of the machinery was $255,000. Overhead estimated that the machinery would be used for 68,000 hours before being sold for an estimated $10,200. Overhead uses the units-of-production method of depreciation. Assuming the machine was used for 12,700 hours during 2005, 14,100 hours during 2006 and 13,400 hours during 2007, what the carrying value of the machinery on January 2, 2008 would be ?

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