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What is difference between book value and trade-in value

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Question - A video-recording system was purchased 3 years ago at a cost of $39,000. A 5-year recovery period and DDB (Double Declining Balance) depreciation have been used to write off the basis. The system is to be replaced this year with a trade-in value of $3,500. What is the difference between the book value and the trade-in value?

Reference no: EM132572387

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