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On July 1, 2020, MK Inc. acquired equipment for concert performances at a cost of $21,700. The band estimates it will use this equipment for

On July 1, 2020, MK Inc. acquired equipment for concert performances at a cost of $21,700. The band estimates it will use this equipment for 5 years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,700

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