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On January 1, 2020, BJK Company acquired a machine for $400,000. The estimated useful life of the machine is five years. Residual value at
On January 1, 2020, BJK Company acquired a machine for $400,000. The estimated useful life of the machine is five years. Residual value at the end of five years is estimated to be $50,000. What is the book value of the machine at the end of 2021 (end of second year) if the company uses the straight-line method of depreciation? A) $210,000 B) $260,000 C) $140,000 D) $200,000 E) $ 400,000
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