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9 of 50 View Policies < Current Attempt in Progress -/1 E! Waterway Industries purchased a depreciable asset for $704000 on April 1, 2018. The

9 of 50 View Policies < Current Attempt in Progress -/1 E! Waterway Industries purchased a depreciable asset for $704000 on April 1, 2018. The estimated salvage value is $68000, and the estimated useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2021 when the asset is sold? O $350200 $255700 O $392200 O $297700

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