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Machinery Is Purchased for $80 000

Question 29

Multiple Choice

Machinery is purchased for $80 000.It is estimated that it has a useful life of 5 years and a residual value of $5 000.Using the straight-line method,the carrying value of the machine at the end of the fourth year of the machine's useful life is:


A) $15 000
B) $80 000
C) $20 000
D) $60 000

Correct Answer:

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