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TB MC Qu. 7-111 Kansas Enterprises purchased equipment for... Kansas Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have

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TB MC Qu. 7-111 Kansas Enterprises purchased equipment for... Kansas Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years Using the double declining balance method, the book value at December 31, 2022, would be: Multiple Choice $21,600 $24,800 $36,000

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