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Equipment with a cost of $585,400 has an estimated residual value of $58,000, has an estimated useful life of 18 years, and is depreciated by

Equipment with a cost of $585,400 has an estimated residual value of $58,000, has an estimated useful life of 18 years, and is depreciated by the straight-line method. a. Determine the amount of the annual depreciation. $ b. Determine the book value at the end of the 7 full years of use

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