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Cutter Enterprises purchased equipment for $63,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of

Cutter Enterprises purchased equipment for $63,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,600. Using the straight-line method, the book value at December 31, 2021, would be: Multiple Choice $50,400. $45,120. $43,800. $51,720.

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