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Compute the book value of the asset at the end of year

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Question - A company purchases new equipment for $10,500. The company estimates that the equipment will have a useful life of 5 years and a residual value of $3,500. The equipment is expected to be good for 5,000 hours over its useful life. Using the double-declining-balance method, compute the book value of the asset at the end of year 1.

Reference no: EM133110225

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