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What is the residual value of the roof

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Reference no: EM133007242

Problem 1: A retractable roof was purchased for Emirates Stadium at a cost of $350,000 on January 1, 2020, with a useful life of 10 years. The company uses straight-line depreciation and depreciated $30,000 in 2020. What is the residual value of the roof?

Option 1: $0

Option 2: $20,000

Option 3: $50,000

Option 4: $35,000

Option 5: None of the answers are correct

Reference no: EM133007242

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