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Assume the total assets equal $800000 and the total liabilities equal $500000 at the end of 2015. During 2016, the total assets decreased by 10%

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Assume the total assets equal $800000 and the total liabilities equal $500000 at the end of 2015. During 2016, the total assets decreased by 10% and total owner equity decreased by 20%, what is the total amount of liabilities at the end of 2016? Select one: a. 640000 b. 480000 c. 520000 d. 360000

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