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How do calculate book value using straight-line depreciation

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Reference no: EM132674143

Problem 1: An asset costs 16,000 dollars and has a scrap value of 3,200 dollars after seven years. Calculate its book value using straight-line depreciation (Perform all calculations using 5 significant figures and round your answer to the nearest dollar).

(a) After one year?

(b) After four years?

(c) After seven years?

Reference no: EM132674143

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