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Cutter Enterprises purchased equipment for $63,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $5,

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Cutter Enterprises purchased equipment for $63,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $5, 100. Using the straight-line method, calculate depreciation for 2017 and the equipment's book value at December 31, 2017

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