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Calculate the book value of a three-year-old machine that cost $121,000, has an estimated residual value of $11,000, and has an estimated useful life of

Calculate the book value of a three-year-old machine that cost $121,000, has an estimated residual value of $11,000, and has an estimated useful life of 11,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000 hours in year 1, 2,000 hours in year 2, and 3,000 hours in year 3.

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