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Jake's Mechanics owns the following long-lived assets: Asset Date Purchased Cost Estimated Useful Life Building January 1, 2014 $79,750 25 years Vehicles December 31,

Jake's Mechanics owns the following long-lived assets: Asset Date Purchased Cost Estimated Useful Life Building January 1, 2014 $79,750 25 years Vehicles December 31, 2017 28,140 7 years Equipment July 1, 2016 14,600 10 years

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