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A machinist's lathe was purchased 8 years ago and, with installation and setup, has an initial cost of $270,000. It will have a salvage value
A machinist's lathe was purchased 8 years ago and, with installation and setup, has an initial cost of $270,000. It will have a salvage value of 23,900 6 years from now. Assuming straight-line depreciation is a reasonable model, determine the current book value.(Use 3 significant figures for all calculations in this question)
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