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E. Waltham Corporation purchased a truck at the beginning of 2023 for $93,600. The truck is estimated to have a salvage value of $3,600 and
E. Waltham Corporation purchased a truck at the beginning of 2023 for $93,600. The truck is estimated to have a salvage value of $3,600 and a useful life of 120,000 miles. It was driven for 21,000 miles in 2023. What is the trucks book value as of 12/31/2023?
a. $93,600
b. $77,220
c. $77,850
d. $74,250
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