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At December 31,2010,Edgar Enterprises Had Equipment with a Book Value

Question 84

Multiple Choice

At December 31,2010,Edgar Enterprises had equipment with a book value of $40,000.On December 31,2009,the book value was $55,000.The original cost of the equipment was $75,000.Assuming straight-line depreciation and no salvage value,what is the estimated economic life of the asset?


A) 5 years
B) 4 years
C) 3 years
D) 2 years

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