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K.T. Labs bought a Gene gun for $39,000. The accounting department has estimated that the machine would have an annualized capital cost of $4, 930

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K.T. Labs bought a Gene gun for $39,000. The accounting department has estimated that the machine would have an annualized capital cost of $4, 930 over its 7-year service life. What salvage value was assumed in calculating the capital cost? The firm's interest rate is known to be 6%. The salvage value is (Round to the nearest dollar.)

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