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Gamma Inc. bought new office furniture in the year 2002. The purchase cost was 61243 dollars and in addition it had to spend 14078 dollars
Gamma Inc. bought new office furniture in the year 2002. The purchase cost was 61243 dollars and in addition it had to spend 14078 dollars for installation. The furniture has been in use since March 16th, 2002. Gamma forecasted that in 2017 the office furniture would have a net salvage value of $2500. Using the US Accelerated Depreciation Schedule, estimate the value of depreciation recorded in the accounting books in the year 2006 if the company decided to sell the furniture on May 10th (of 2006).
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