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A vehicle is purchased for $25,000 and its price is expected to drop to $4,000 after 20 years of service. Using the 150% declining balance
A vehicle is purchased for $25,000 and its price is expected to drop to $4,000 after 20 years of service. Using the 150% declining balance method, what is the book value of this vehicle after 7 years of use? Do not switch to straight line depreciation.
a.
$11,957
b.
$5,243
c.
$14,485
d.
$10,515
e.
$8,014
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