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What is the accumulated depreciation of this piece

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Reference no: EM132846159

Question - Downtown smith ltd. Purchased a piece of machinery on Jan 1st 2013 for €400,00. The company estimated a useful life of 10years and a residual value of zero for this asset. On December 31st 2015, the company decided to sell the machinery for €350,000.

What is the accumulated depreciation of this piece of machinery on December 31, 2015 right before selling it?

a. €80,000

b. €120,000

c. €280,000

d. €320,000

Reference no: EM132846159

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