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What the cost of the factory equipment purchased on December

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Question - A factory equipment with an estimated useful life of 10 years was purchased by Carranglan Co. on December 30, 2010. The equipment was expected to have a residual value of 5,000 at the end of its service life. The sum of the years' digit method was used in computing depreciation. For the year ended December 31, 2014, the depreciation applicable to this equipment was 42,000. What the cost of the factory equipment purchased on December 30, 2010?

Reference no: EM133038876

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