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On January 3, 2021, Crane Corp. purchased machinery. The machinery has an estimated useful life of 5 years and an estimated residual value of $86300.
On January 3, 2021, Crane Corp. purchased machinery. The machinery has an estimated useful life of 5 years and an estimated residual value of $86300. Crane uses straight-line depreciation for all its machinery, and recorded $115000 depreciation expense for
2023. The acquisition cost of the machinery was
$546500.
$661300.
$575000.
$488700.
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