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Kansas Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a ten-year life, with a residual value of $7,200

Kansas Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a ten-year life, with a residual value of $7,200 at the end of ten years. Using the double-declining balance method, the book value at December 31, 2022, would be: (Do not round your intermediate calculations) Multiple Choice: $7,800. $49,920. $56,400. $54,000

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