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Exercise 11-16 Presented below is information related to equipment owned by Concord Company at December 31, 2017. Cost Accumulated depreciation to date 1,060,000 Expected future
Exercise 11-16 Presented below is information related to equipment owned by Concord Company at December 31, 2017. Cost Accumulated depreciation to date 1,060,000 Expected future net cash flows7,420,000 Fair value $9,540,000 5,088,000 Assume that Concord will continue to use this asset in the future. As of December 31, 2017, the equipment has a remaining useful life of 5 years
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