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1. VAC company is depreciating their packaging equipment on a straight-line basis. The equipment was purchased two years ago on Jan 1. It cost $46,000

1. VAC company is depreciating their packaging equipment on a straight-line basis. The equipment was purchased two years ago on Jan 1. It cost $46,000 and has a useful life of 7 years, with a salvage value estimated at $4,000. Provide the Net Book Value for the equipment.

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