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Baxter Tile, Inc

Question 59

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Baxter Tile, Inc. purchased new trucks at the beginning of 2011 for $400,000. The trucks had an estimated life of 5 years and an estimated salvage value of $50,000. Baxter Tile uses straight-line depreciation. At the beginning of 2012, Baxter sold the trucks for $350,000 and purchased new trucks for $500,000. Determine the following amounts:
Baxter Tile, Inc. purchased new trucks at the beginning of 2011 for $400,000. The trucks had an estimated life of 5 years and an estimated salvage value of $50,000. Baxter Tile uses straight-line depreciation. At the beginning of 2012, Baxter sold the trucks for $350,000 and purchased new trucks for $500,000. Determine the following amounts:

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