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On January 1, 20X1, Prime Co, which uses the straight-line method, purchases a machine for $59,000 that it expects to last for 10 years; Prime

  • On January 1, 20X1, Prime Co, which uses the straight-line method, purchases a machine for $59,000 that it expects to last for 10 years; Prime Co expects the machine to have a residual value of $8,000. What is the balance in the Accumulated Depreciation account at the end of 20X4?

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