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In 2020, the gross (tangible) fixed assets for a business were reported to be $100 million. Also, in 2019, the accumulated depreciation was reported to
In 2020, the gross (tangible) fixed assets for a business were reported to be $100 million. Also, in 2019, the accumulated depreciation was reported to be $85,000 for the same business. You are further informed that this business reported $5,000 depreciation expense on its 2020 income statement. Based on this information, what would be the net fixed asset value in 2020? Group of answer choices $20,000 $15,000 $10,000 $5,000
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