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John Morse Corporation buys a van for $16,000. The estimated life of the van is four years. The residual value of the van is $4,000.

John Morse Corporation buys a van for $16,000. The estimated life of the van is four years. The residual value of the van is $4,000. After two years, the van is sold for $8,000. What was the difference between the book value and the amount received from selling the van if John used the straight-line method of depreciation? O 1) $4,000 O 2) $2,000 3) $8,000 4) $12,000

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