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Jenkins, Inc. has purchased equipment for $560,000 and has accumulated depreciation of $55,000 as of 12/31/2020. What is the amount presented on the financial statements

Jenkins, Inc. has purchased equipment for $560,000 and has accumulated depreciation of $55,000 as of 12/31/2020. What is the amount presented on the financial statements as the book value of the equipment? O $505,000 O $55,000 O $560,000 O $615,000

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