EcoSolutions Inc. owns the following assets: Solar Energy Panels: Purchased for $300,000 on January 1, 2020, with
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EcoSolutions Inc. owns the following assets:
- Solar Energy Panels: Purchased for $300,000 on January 1, 2020, with an estimated useful life of 15 years and no residual value. However, on January 1, 2023, it was determined that the remaining useful life is only 10 years, with a residual value of $25,000.
- Eco-Friendly Manufacturing Plant: Constructed at a cost of $1,500,000 on July 1, 2021, with an estimated useful life of 30 years and no residual value.
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