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Question 16 (1 point) On January 1, year 1, ABC. Ltd. purchased a piece of equipment for $ 280000 plus installation costs of $ 60000

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Question 16 (1 point) On January 1, year 1, ABC. Ltd. purchased a piece of equipment for $ 280000 plus installation costs of $ 60000 that were necessary to make the equipment operational ABC. Ltd. uses the double declining balance method. The piece of equipment is expected to have a useful life of 18 years at which time it will have a residual value of $ 10000. What is the book value of the equipment as of December 31, year 2. Round your answer to the nearest dollar. Your

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