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On January 1, 2019, Hongkang Company purchased equipment for $44,000. The company expects to use the equipment for 4 years. The asset has no salvage

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On January 1, 2019, Hongkang Company purchased equipment for $44,000. The company expects to use the equipment for 4 years. The asset has no salvage value. Calculate the book value of the equipment at December 31, 2020. (Please note that answers should be rounded to the nearest dollar amount. i.e. $1,666.67 should be entered as 1,667)

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