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Microsoft has just completed year 1 of the 10 year life (9 years remain) of a piece of equipment it originally purchased for $700,000. It

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Microsoft has just completed year 1 of the 10 year life (9 years remain) of a piece of equipment it originally purchased for $700,000. It is applying straight-line depreciation to this equipment. What is the book value of this equipment at the end of year 1? $560,000 $770,000 $700,000 $630,000

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