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Determine the end of year book value

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Mr. DiTomaso buys a delivery van for his grocery delivery business. The van costs him $31,000, and has an expected lifespan of 5 years with a resale value of $3,500.

Determine the end-of-year book value after 5 years using a declining balance method at 1.5 times the straight-line rate.

Reference no: EM131160412

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