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A company purchased equipment on January 1. The equipment cost $320,000 and had an expected salvage value of $40,000. The life of the equipment was
A company purchased equipment on January 1. The equipment cost $320,000 and had an expected salvage value of $40,000. The life of the equipment was estimated to be 7 years and straight-line depreciation is used. The book value of the equipment at the end of the fifth year would be O $320,000 O $200,000 O $168,000 O $150,000 O $120,000
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