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On Janusry 1,2022, equipment was purchased for $100,000. The equipmenrs estimated residual value is $20.000, and its estimated useful lifo is 8 years. On December

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On Janusry 1,2022, equipment was purchased for $100,000. The equipmenrs estimated residual value is $20.000, and its estimated useful lifo is 8 years. On December 31,2022 , the book value using the straight-line method of depreciation is $90,000. True or False

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