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Cheap-Rent-a-Heap Car Rental paid $7700 for a car. It has a useful life of 3 years and a residual value of $500 upon retirement from

Cheap-Rent-a-Heap Car Rental paid $7700 for a car. It has a useful life of 3 years and a residual value of $500 upon retirement from service. a) What is the depreciation cost per year? $_________annually b) If the car was purchased on August 1st, what was the accumulated depreciation for the first year, ending December 31st? $ c) What was the book value on December 31st? $

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