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Problem 1: An asset having a four-year service life and a salvage value of 5,000 was acquired for 45,000 cash on January 2 of Year One. The amortization expense for Year 2, ending December 31, will be
a. 5,000, under the straight-line method
b. 11,250, under the double declining-balance method
c. 11,250, under the straight-line method
d. 22,500, under the double declining-balance method
Problem 2: Asset amortization is calculated to the nearest
a. hour
b. day
c. week
d. month
For each of the following independent events, identify the account that would be debited and the account that would be credited. The accounts for the first event are identified as an example.
What is the NPV for this project? $. Case sensitive. Type in 120,000.00 (two decimal places) for $120,000.00, or -120,000.00 for negative $120,000.00.
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