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What is the carrying amount of the long-lived asset

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Question - On October 1, 2021, Marshwinds Wind Turbine Company places a new asset into service. The cost of the asset is $ 8,000 with an estimated 5-year life and $ 2,000 residual value at the end of its useful life. What is the carrying amount of the long-lived asset on the December 31, 2021, balance sheet assuming that Marshwinds Wind Turbine Company uses the double diminishing-balance method of depreciation?

Reference no: EM133080002

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