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Kansas Enterprises purchased equipment for $80,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of

Kansas Enterprises purchased equipment for $80,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $8,000 at the end of ten years.

a. Using the straight-line method, depreciation expense for 2022 would be: b. The book value of the asset on the 12/31/22 balance sheet will be:

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