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Compute the original cost of the equipment

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Reference no: EM132418856

Problem: Equipment was purchased that had a useful life of 5 years and a salvage value of $4000. It was depreciated using the straight line method. On the last day of the fourth year, the equipment was sold for $5000 and resulted in a loss of $7000. Using this information, compute the original cost of the equipment. Explain your solution in detail.

Reference no: EM132418856

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