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Cutter Enterprises purchased equipment for $60,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,000,

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Cutter Enterprises purchased equipment for $60,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,000, Using the straight-line method, the book value at December 31, 2018, would be: Multiple Choice $49,200. $42,000

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