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Need help please! Cutter Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual
Need help please!
Cutter Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $7,800. Using the sum-of-the-years'-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round depreciation rate per year) Multiple Choice $20,800 and $23,400 respectively. $18,720 and $28,080 respectively. $18,720 and $35,880 respectively. $20,800 and $31,200 respectivelyStep by Step Solution
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