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Please show work so I can learn. Thank You. A company has decided to purchase new office furniture with a useful life of 12 years
Please show work so I can learn. Thank You.
A company has decided to purchase new office furniture with a useful life of 12 years for $100,000. Sales tax for the furniture was $6,000, and inbound transportation costs were $4,000. The new furniture will be kept for 10 years before being sold. Its estimated salvage value at the time is expected to be $5,000. Using the SL depreciation method, the book value at the end of the 5th year of use is:
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