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A machine, acquired for a cash cost of $17,500, is being depreciated on a straight-line basis of $2,000 per year. The residual value was estimated

A machine, acquired for a cash cost of $17,500, is being depreciated on a straight-line basis of $2,000 per year. The residual value was estimated to be 20% of cost. The estimated useful life is

6 years.

7 years.

8 years.

5 years.

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