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A Company purchased a piece of equipment on January 1, 20X1 by signing a note payable. Note payable Coupon rate Market rate Note term
A Company purchased a piece of equipment on January 1, 20X1 by signing a note payable. Note payable Coupon rate Market rate Note term Market value of equipment Useful life of the equipment Additional information: $250,000 2.00% ???? 6 years $230,000 15 years The note is due in equal annual payments of principle and interest. There is no salvage value and the company uses the straight-line depreciaiton method of depreciation for book purposes. What is the net book value of the equipment at December 31, 20X1? Numeric Response
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