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On January 1, 20X1, Emilys Boutique purchased equipment for $74,000 which is expected to have a 8-year useful life and a $4,000 salvage value. Using
On January 1, 20X1, Emilys Boutique purchased equipment for $74,000 which is
expected to have a 8-year useful life and a $4,000 salvage value. Using straight-line depreciation, what is book or carrying value of this equipment that will appear in the statement of financial position on December 31, 20X3?
a.$42,000
b. $44,000
c.$47,750
d.46,250
please show work thank you for helping me
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