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Smith's Company purchased a tree machine on September 1, 2005. The purchasing price of the tree machine was $60,000. The machine has an estimated useful

Smith's Company purchased a tree machine on September 1, 2005. The purchasing price of the tree machine was $60,000. The machine has an estimated useful life of 10 years with an estimated residual value of $2,000. The cutting machine is expected to run 580,000 machine hours during its estimated useful life. What will be the book value of the machine at the end of the estimated useful life?

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