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A three-year-old machine has a cost of $88,000, an estimated residual value of $8,000, and an estimated useful life of five years. The company uses

A three-year-old machine has a cost of $88,000, an estimated residual value of $8,000, and an estimated useful life of five years. The company uses straight-line depreciation. Calculate the net book value at the end of the third year.

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