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ABC company has a piece of equipment that was purchased for $35,000 and has an estimated useful life of 7 years and a residual value

ABC company has a piece of equipment that was purchased for $35,000 and has an estimated useful life of 7 years and a residual value of $3,000. It currently has a resale value of approximately $25,000. To date, $15,000 of depreciation has been recorded on the asset. What is the book value of the asset?

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