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Pharoah Company bought a machine on January 1, 2017. The machine cost $148000 and had an expected salvage value of $29000. The life of the

Pharoah Company bought a machine on January 1, 2017. The machine cost $148000 and had an expected salvage value of $29000. The life of the machine was estimated to be 4 years. The company uses the straight-line method of depreciation. The book value of the machine at the beginning of the third year would be

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