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On October 1, 2021, Swifty Company places a new asset into service. The cost of the asset is $125000 with an estimated 5 -year life

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On October 1, 2021, Swifty Company places a new asset into service. The cost of the asset is $125000 with an estimated 5 -year life and $13700 salvage value at the end of its useful life. What is the book value of the plant asset on the December 31,2021 , balance sheet assuming that Swifty Company uses the double-declining-balance method of depreciation? $42315 \$101125 $11375 $112500

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