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Cutter Enterprises purchased equipment for $96,000 on January 1,2024 . The equipment is expected to have a five-year life and a residual value of $3,900

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Cutter Enterprises purchased equipment for $96,000 on January 1,2024 . The equipment is expected to have a five-year life and a residual value of $3,900 Using the double-declining-balance method, depreciation for 2025 would be; Nuitiple Choice 538,400 $22104 $23040 None of the other answer choices are correct

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