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A machine that cost $740,000 has an estimated residual value of $20,000 and an estimated useful life of eight years. The company uses straight-line depreciation.

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A machine that cost $740,000 has an estimated residual value of $20,000 and an estimated useful life of eight years. The company uses straight-line depreciation. Calculate its book value at the end of year 7. (Do not round intermediate calculations.)

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