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On January 1,2010 Equipment Was Purchased for $100,000; the Equipment's

Question 2

True/False

On January 1,2010 equipment was purchased for $100,000; the equipment's estimated residual value is $20,000 and its estimated useful life is 8 years.On December 31,2010,the book value using the straight-line method of depreciation is $90,000.

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