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On January 1, 2016, Finnegans, Inc. purchased equipment having an estimated useful life of 10 years. Resale value at the end of its service was
On January 1, 2016, Finnegans, Inc. purchased equipment having an estimated useful life of 10 years. Resale value at the end of its service was estimated at 20% of original cost. On December 31, 2020, the equipment was sold for 50% of its original cost. Finnegans recognized a loss on the sale. Which of the following depreciation methods had Finnegans been using? Straight-line b. Sum-of-the-years-digits c. Double-declining balance d. Either A or B e. Either B or C f. Either A, B, or C
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