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Solve the Problem. -A Drilling Rig Cost $20,600 and Has an Estimated Life

Question 40

Multiple Choice

Solve the problem.
-A drilling rig cost $20,600 and has an estimated life of 8 years and a scrap value of $1,030. Find the
Book value at the end of 5 years using the straight-line method. Round to nearest dollar.


A) $7,725
B) $8,369
C) $18,154
D) $12,231

Correct Answer:

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