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What the book value on december would be

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Problem 1: Andrew Enterprises purchased equipment for $72,000 on January 1, 2016. The equipment is expected to have a five-year life, with a residual value of $6,000 at the end of five years. Using the double-declining balance method, the book value on December 31, 2017 would be:

Option 1: $25,920

Option 2: $24,960

Option 3: $27,360

Option 4: $14,400

Reference no: EM132954242

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