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Define salvage value of a piece of equipment with useful life of 15 years if it was purchased 5 years ago for $120,000 and depreciates

Define salvage value of a piece of equipment with useful life of 15 years if it was purchased 5 years ago for $120,000 and depreciates at 10% per year

$70,859

$60,000

$12,000

$5,400

$24,707

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