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Norton contributed equipment that had a cost of $17,000 and accumulated depreciation of $15,000. Fair market value is $5,000. The equipment will be shown in

Norton contributed equipment that had a cost of $17,000 and accumulated depreciation of $15,000. Fair market value is $5,000.

The equipment will be shown in the new partnership at what amount?

A. $17,000

b. $2,000

c. $15,000

d. $5,000

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