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On July 1, ABC Company purchased a building for $1,243,000 and uses the 200% declining-balance depreciation method. The estimated residual value of the building is
On July 1, ABC Company purchased a building for $1,243,000 and uses the 200% declining-balance depreciation method. The estimated residual value of the building is $155,000 and it has an expected useful life of 10 years.
What is the building's book value at the end of year 2 if ABC uses a December 31, year-end?
Group of answer choices
$783,360
$696,320
$894,960
$795,520
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