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Cutter Enterprises purchased equipment for $96,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $3,300.

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Cutter Enterprises purchased equipment for $96,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $3,300. Using the double-declining balance method, the book value at December 31, 2017 would be: Multiple Choice $35,760. $34,560 $33,660 $19,200

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