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Cutter Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $7,200.

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Cutter Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $7,200. Using the double-declining-balance method, the book value at December 31, 2022, would be: Multiple Choice O $29,280. $27,180. $15,600. $28,080

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