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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 $5100

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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 $5100 Using the double-declining balance method, the book value at December 31, 2022, would be Multiple Choice 522

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