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ABC Company Purchased New Equipment For 54,000 in 1980. Installation cost amounting to 6000. The equipment is expected to have a useful life at the

ABC Company Purchased New Equipment For 54,000 in 1980. Installation cost amounting to 6000. The equipment is expected to have a useful life at the end of 1996 with a salavage value of 10% of the original cost. Determine the book value at the end of 1992 by the straight line method. Final answer should be in four decimal places.

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