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How many years remain to be depreciated

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Reference no: EM13536310

Terrill Company finds its records are incomplete concerning a piece of machinery used in its plant. According to the company records, the machinery has an estimated useful life of 10 years and an estimated salvage value of USD 24,000. It has recorded USD 12,000 in depreciation each year using the straight-line method. If the accumulated depreciation account shows a balance of USD 72,000, what is the original cost of the machinery and how many years remain to be depreciated?

Reference no: EM13536310

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