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The SPENCER CAR SERVICE is considering the purchase of a luxury limo at a cost of $500,000. The estimated life of the limo is 10

The SPENCER CAR SERVICE is considering the purchase of a luxury limo at a cost of $500,000. The estimated life of the limo is 10 years with an estimated salvage value of $0.00. Straight-line depreciation will be used. The income tax rate is 25%

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