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XYZ-Industries bought land and built its plant 5 years ago. Land is not depreciated. The depreciation on the building and plant is calculated using the

image text in transcribed XYZ-Industries bought land and built its plant 5 years ago. Land is not depreciated. The depreciation on the building and plant is calculated using the straight-line method, with a life of 15 years and a salvage value of $750,000. The depreciation for the equipment, all of which was purchased at the same time the plant was constructed, is calculated using declining-balance method with depreciation rate of 14%. Complete the Balance Sheet below and answer the 4 Multiple-Choice questions

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