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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 $9,000.
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 $9,000.
Using the double-declining-balance method, depreciation for 2024 and the book value on December 31, 2024, would be:
Multiple Choice
$28,800 and $46,200, respectively.
$28,800 and $52,200, respectively.
$32,400 and $39,600, respectively.
$32,400 and $48,600, respectively.
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