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Cutter Enterprises purchased equipment for $81,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $3,900.

Cutter Enterprises purchased equipment for $81,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $3,900. Using the sum-of-the-years'-digits method, depreciation for 2024 and book value on December 31, 2024, would be: Note: Do not round the depreciation rate per year

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