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Current Attempt in Progress Ivanhoe Technology purchased equipment on January 4, 2022, for $250,520. The equipment had an estimated useful life of 6 years and
Current Attempt in Progress Ivanhoe Technology purchased equipment on January 4, 2022, for $250,520. The equipment had an estimated useful life of 6 years and a residual value of $8,720. The company has a December 31 year end and uses straight-line depreciation. On December 31, 2024, the company tests for impairment and determines that the equipment's recoverable amount is $95,640. (a) Calculate the equipment's carrying amount at December 31, 2024 (after recording the annual depreciation). Carrying amount Dec. 31,2024$ eTextbook and Media List of Accounts Attempts: 0 of 3 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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