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**FINANCIAL ACCOUNTING** ABC Co. purchased a machinery at a cost of $320,000 on July 1, 2019. The companys estimated useful life for the machinery is

**FINANCIAL ACCOUNTING**

ABC Co. purchased a machinery at a cost of $320,000 on July 1, 2019. The companys estimated useful life for the machinery is 5 years, and the estimated salvage value is $48,000. The company uses straight-line depreciation. What will the net book value of the machinery be on December 31, 2021?

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