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Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. 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 $84,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $7,200. Using the double-declining balance method, depreciation for 2017 would be: Multiple Choice $33,600. $18,432. None of these answer choices are correct. $20,160

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