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CCC Inc. purchases a building for $500,000 on January 1st, 2017. The building is estimated to have a useful life of 50 years, at which
CCC Inc. purchases a building for $500,000 on January 1st, 2017. The building is estimated to have a useful life of 50 years, at which point it will have no residual value.CCC Inc. uses the straight-line method to account for depreciation. What is the Accumulated depreciation and book value respectively after10 years? Select one: a. Accumulated depreciation: $80,000; Book value: $420,000 b. Accumulated depreciation: $90,000; Book value: $410,000 c. Accumulated depreciation: $100,000; Book value: $400,000 d. Accumulated depreciation: $110,000; Book value: $390,000
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