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calculate the annual depreciation using the straight-line method. Purchase price of asset: $85,000 Expected life: 5 years. What will be the book value of this

calculate the annual depreciation using the straight-line method.

Purchase price of asset: $85,000

Expected life: 5 years.

What will be the book value of this asset after five years?

At the 21% tax rate, what will be your taxes if you sell this asset for $25,000 at the end of year 5?

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