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3 (20 points) George bought a piece of equivalent for $60,000. The equipment has a useful life of 10 years and a salvage value of

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3 (20 points) George bought a piece of equivalent for $60,000. The equipment has a useful life of 10 years and a salvage value of $4,500 at the end of its useful life. Assume that the annual interest rate is 9%. Calculate the present value of depreciation, using the SOYD depreciation method

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