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Laguna Company purchased equipment on July 1, 2019 for $62,000 and expects that it will last 10 years and then be worthless. What will be

Laguna Company purchased equipment on July 1, 2019 for $62,000 and expects that it will last 10 years and then be worthless. What will be the net carrying value and the amount of expense associated with this asset on the December 31, 2020 annual financial statements?

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