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Cutter Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400.

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Cutter Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400. Using the straight-line method, the book value at December 31, 2021, would be: O O O O $41,280. $39,600. $49,680. $48,000

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