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Determine the book value at the end of nine-th year of use

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A business paid $100,000 for a building at the beginning of the year. The building had a useful life of 20 years with a zero residual value. After using the building for nine years, the business determined that the building will remain useful for only four more years and will have a residual value of $11,000. Straight line method is used.

Problem 1: Determine the book value at the end of the 9th year of use.

Reference no: EM132819790

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