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A van costing $25,000 with a residual value of $5,000 was purchasd by Diamond Corporation. The van's estimated life is 10 years. What's the book

A van costing $25,000 with a residual value of $5,000 was purchasd by Diamond Corporation. The van's estimated life is 10 years. What's the book value at the end of Year 2 using the declining-balance method? Assume a depreciation rate of twice the straight-line rate. (PLEASE SHOW YOUR WORK AND ALL CALCULATIONS as I do not understand this problem, Thank You)!

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