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Cullumber Technology purchased equipment on January 4, 2019. for $250.500. The equipment had an estimated useful life of 7 years and a residual value of
Cullumber Technology purchased equipment on January 4, 2019. for $250.500. The equipment had an estimated useful life of 7 years and a residual value of $9.700. The company has a December 31 year end and uses straight-line depreciation. On December 31, 2021, the company tests for impairment and determines that the equipment's recoverable amount is $15.710 Calculate the equipment's carrying amount at December 31, 2021 (after recording the annual depreciation. Carrying amount Dec 31, 2021 $
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