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Marlow Company purchased a point-of-sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of

Marlow Company purchased a point-of-sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would the book value of the asset be at the end of the first year of its useful life using the double declining balance method?

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