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23. On January 2, 2016, ABC Company acquired equipment for 260,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated

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23. On January 2, 2016, ABC Company acquired equipment for 260,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is 20,000. What is 4 the carrying value of the asset on December 31, 2017, if ABC uses the straight-line method of depreciation? A) 80,000 B) 96,000 C) 104,000 D) 164,000

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