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An asset was purchased 7 years ago for $10000. It was estimated to have a 10 year service life and a salvage value of $2000

An asset was purchased 7 years ago for $10000. It was estimated to have a 10 year service life and a salvage value of $2000 at the end of its service life. If the value of the asset is believed to be depreciating at a constant rate each year, what is its book value today if depreciation is calculated using the Declining Balance Method (DBD)?

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