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What is the book value of the asset on december

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Question - On January 2, 2023, Kellogg Corporation acquired equipment for $600,000. The estimated life of the equipment is 5 years or 50,000 hours. The estimated residual value is $10,000. What is the book value of the asset on December 31, 2024, if Kellogg Corporation uses the straight-line method of depreciation?

Reference no: EM133185491

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