Salvage value used in calculating the depreciation

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Reference no: EM13878048

An asset with a first cost of $30,000 has been depreciated by the straight line method at $4,000 per year. If the asset's depreciable life was five years, the salvage value used in calculating the depreciation was closest to:

A) $4,000

B) $5,000

C) $8,000

D) $10,000

Reference no: EM13878048

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