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On January 13, 2013, Precision Oil Company purchased a drilling truck for $90,000. Precision expects the truck to last five years or 200,000 miles, with

On January 13, 2013, Precision Oil Company purchased a drilling truck for $90,000. Precision expects the truck to last five years or 200,000 miles, with an estimated residual value of $15,000 at the end of that time. During 2014, the truck is driven 48,000 miles. Precision

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