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Question 2 (3 marks): A piece of Equipment is purchased on January 1st 2012 for $49.600. The equipment will be straight lin depreciated over 10

Question 2 (3 marks): A piece of Equipment is purchased on January 1st 2012 for $49.600. The equipment will be straight lin depreciated over 10 years, and at the end of its life is it expected to be sold for scrap for $700. Assuming a December 31 year end, what is Net Book value of this equipment on January 1st, 2016

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