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Required information [The following information apples to the questions displayed below] Cheesosteak's Sandwich Shop had the folowing long-term asset balances as of January 1,2024: Additional

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Required information [The following information apples to the questions displayed below] Cheesosteak's Sandwich Shop had the folowing long-term asset balances as of January 1,2024: Additional information: - Cheesestenks purchased all the assets at the beginning of 2022. - The buliding is depreciated over a 20 -year service He using the double-declining-balance method and estimating no residual value. - The equipment is depreciated over a Byear useful life using the straight line method with an estimated residual value of $12,000. - The patent is estimated to have a five-year service lfe with no residual value and is amortized using the straight-line method. - Depreciation and amortization have been recorded for 2022 and 2023 (fist two years). 3. Calculate the book value for each of the four long-term assets at December 31,2024

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