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Problem # 2 Presented below is information related to equipment owned by Finley Company at December 3 1 , 2 0 1 2 .

Problem #2
Presented below is information related to equipment owned by Finley Company at December 31,2012.
\table[[Cost,$7,000,000
Problem #2
(cost-acc dep)-imyarmentoss
Presented below is information related to equipment owned by Finley Company at December 31,2012.
Cost
Accumulated depreciation to date
Expected future net cash flows
Fair value
FV less cost
Problem #3
Repeat the instructions for problem #2 assuming the company no longer uses the asset and intends to dispose of it.
(a)
\table[[,,6,200,000
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