2. On January 1, Brentwood Cranes purchased a crane for $150,000. Brentwood expects the crane to...

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2. On January 1, Brentwood Cranes purchased a crane for $150,000. Brentwood expects the crane to remain useful for five years (2,000,000 lifts) and to have a residual value of $50,000. The company expects the crane to be used for 160,000 lifts the first year. Read the requirements. 2. On January 1, Brentwood Cranes purchased a crane for $150,000. Brentwood expects the crane to remain useful for five years (2,000,000 lifts) and to have a residual value of $50,000. The company expects the crane to be used for 160,000 lifts the first year. Read the requirements.