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On July 1, 20x9, an entity purchased a machine for $88150 with an estimated life of 5 years and a residual value of $5730. If

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On July 1, 20x9, an entity purchased a machine for $88150 with an estimated life of 5 years and a residual value of $5730. If the company uses the diminishing balance method for depreciation at a rate of 42%, what would be the balance reported for the net book value of the machine at December 31, 20x9? Select one: a. $79908 b. $37023 c. $69638 d. $70842

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