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Albatross Services scrapped a van. The van originally cost $40,000, had an estimated salvage value of zero, and an estimated life of 10 years. At
Albatross Services scrapped a van. The van originally cost $40,000, had an estimated salvage value of zero, and an estimated life of 10 years. At the time it was scrapped, it had accumulated depreciation of $40,000. What was the effect of scrapping the van?
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