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Cutter Enterprises purchased equipment for $99,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,600.

Cutter Enterprises purchased equipment for $99,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,600. Using the double-declining-balance method, depreciation for 2022 would be: Multiple Choice $39,600. $22,896. $23,760. None of these answer choices are correct

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