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What is the book value of the furniture on december

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Question - A company purchased new furniture at a cost of $16,000 on January 1. The furniture is estimated to have a useful life of 6 years and a $1,000 salvage value. The company uses the straight-line method of depreciation. What is the book value of the furniture on December 31 of the first year?

$16,000

$15,000

$2,500

$13,500

$13,333

Reference no: EM132074963

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