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Cutter Enterprises purchased equipment for $54,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $8,700.

Cutter Enterprises purchased equipment for $54,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $8,700. Using the straight-line method, the book value at December 31, 2016, would be:

A. $43,200

B. $44,940

C. $34,500

D. $36,240

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