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Question #1: A company bought a new machine for its warehouse on January 1 - Paid $10,000 in CASH - Financed THE REST of the

Question #1:

A company bought a new machine for its warehouse on January 1

- Paid $10,000 in CASH

- Financed THE REST of the purchase price via a $30,000 5-Year note

- Incurred a SEPERATE $2,000 setup charge

Monthly depreciation is $500 ($6,000 annual).

What's the book value of the new machine ON December 31?

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