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Sam Corp purchased a car for $25,000, a Honda Civic, and they estimate it will have a useful life of 15 years and have a
Sam Corp purchased a car for $25,000, a Honda Civic, and they estimate it will have a useful life of 15 years and have a residual value of $3,000. Please provide the net book value of the car at year 5 assuming Sam Corp uses the declining balance method at 30%. A) $ 4,202 B) $ 25,000 C) $ 20,798 D) None of the above
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