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On January 1, 2022, AIF Inc. acquired a machine at a cost of $1,200,000. The salvage value is $200,000. The machine had an estimated useful

On January 1, 2022, AIF Inc. acquired a machine at a cost of $1,200,000. The salvage value is $200,000. The machine had an estimated useful life of 10 years. AIF uses the straight line depreciation. On the Balance Sheet at December 31, 2024, (i.e., end of year 3), what would be the carry or net book value on the Balance Sheet as of 12/31/2024?

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