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Cargill purchased equipment for $96,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $4,500. Cargill

Cargill purchased equipment for $96,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $4,500. Cargill uses the straight-line method. The book value on December 31, 2024, would be:

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