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A piece of equipment was acquired on January 1, 2015, at a cost of $44,000, with an estimated residual value of $4,000 and an estimated

A piece of equipment was acquired on January 1, 2015, at a cost of $44,000, with an estimated residual value of $4,000 and an estimated useful life of ten years. The company uses the double-declining-balance method. What is its book value at December 31, 2016?

$28,160

$8,000

$36,000

$8,800

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