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Wordmart Inc. purchased equipment for $48,000, and estimated that the equipment will have a $4,000 residual value at the end of its 8-year useful

Wordmart Inc. purchased equipment for $48,000, and estimated that the equipment will have a $4,000 residual value at the end of its 8-year useful life. Using the double diminishing-balance method, the carrying amount of equipment at the end of the third year would be $27,000. $6,750. $20,250. $36,000. None of the above.

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