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A Piece of Equipment Was Acquired on January 1,2018,at a Cost

Question 22

Multiple Choice

A piece of equipment was acquired on January 1,2018,at a cost of $22,000,with an estimated residual value of $2,000 and an estimated useful life of four years.The company uses the double-declining-balance method.What is its book value at December 31,2019?


A) $5,500
B) $10,000
C) $11,000
D) $12,000

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