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On January 1, 2017, Grove City Corp. purchased a ship for $2,000,000. It has a ten-year useful life and a residual value of $50,000. The

On January 1, 2017, Grove City Corp. purchased a ship for $2,000,000. It has a ten-year useful life and a residual value of $50,000. The company uses the double-declining-balance method. What was the book value of the ship for Grove City Corp. at the end of its useful life?

a.$50,000

b.$214,400

c.$0

d.Need more information to determine this answer.

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