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Cinder Construction, a calendar-year company, purchased equipment for $124,000 on January 3rd, 2015. The equipments expected useful life is seven years, and the expected salvage

Cinder Construction, a calendar-year company, purchased equipment for $124,000 on January 3rd, 2015. The equipments expected useful life is seven years, and the expected salvage value of the equipment is $16,000. What is the book value of the equipment on December 31st, 2016, if Cinder uses the double-declining-balance method?

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