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Nelson Enterprises purchased equipment costing $100,000 on January 1, 2010. The equipment is expected to have a salvage value of $10,000 at the end of
Nelson Enterprises purchased equipment costing $100,000 on January 1, 2010. The equipment is expected to have a salvage value of $10,000 at the end of its five-year useful life. If the company uses the double-declining balance depreciation method, the book value of the equipment on December 31, 2012 will be:
$40,000. | ||
$24,000. | ||
$21,600. | ||
$36,000. |
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