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A delivery truck was acquired on January 1, 2018 at a purchase price of 148000, the installation charge was 1600 . The truck was expected

A delivery truck was acquired on January 1, 2018 at a purchase price of 148000, the installation charge was 1600 . The truck was expected to have an estimated useful life of 5 years and a salvage value of $20000. Determine the book value of the machine at the end of 2018 using the reducing balance method.

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