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Equipment is placed in service on January 1. The cost of the equipment is $750,000 with a salvage value of $150,000 and an estimated useful

Equipment is placed in service on January 1. The cost of the equipment is $750,000 with a salvage value of $150,000 and an estimated useful life of five years. What is the book value of the equipment on December 31 of Year 2 under the straight-line method?

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