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Question 4: A firm bought a machine on 1st January 2020 for a price of 50m. The machine is being depreciated over a useful

Question 4: A firm bought a machine on 1st January 2020 for a price of 50m. The machine is being depreciated over a useful life of 5 years using the straight-line method and its estimated residual amount is 5m. Required: Calculate the expected net book value of the machine at 31st December year 2023. Show all your workings.

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