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Compute the estimated useful life of the equipment

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Question - On January 1, the records of Tasty Treats Corporation (TTC) showed the following regarding production equipment:

Equipment (estimated residual value, $4,000) $54,000

Accumulated Depreciation (straight-line, one year) 5,000

Required - Based on the data given, compute the estimated useful life of the equipment.

Reference no: EM133114921

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