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Posted on Oct 22, 2024

Cutter Enterprises purchased equipment for $42,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $6,900.

Using the double-declining-balance method, the book value on December 31, 2025, would be:

Multiple Choice

$8,400.

$16,320.

$15,120.

$14,220.

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