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Hughes Company purchased a building costing $4,800,000 and will depreciate it using the straight-line method over 25 years. If depreciation expense for the first year

Hughes Company purchased a building costing $4,800,000 and will depreciate it using the straight-line method over 25 years. If depreciation expense for the first year of the building's life is $160,000, what is the building's estimated residual value? $240,000. $160,000. $800.000. $960,000. $640,000

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