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Calculate the book value of a three-year-old machine that cost $320,000, has an estimated residual value of $32,000, and has an estimated useful life of

Calculate the book value of a three-year-old machine that cost $320,000, has an estimated residual value of $32,000, and has an estimated useful life of four years. The company uses double declining-balance depreciation. (Do not round intermediate calculations.)

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