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Posted on Sep 09, 2024

Cutter Enterprises purchased equipment for $54,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $7,800.

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

Multiple Choice

$19,440.

$20,640.

$18,540.

$10,800.

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