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How many years remain to be depreciated

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Question - ABC Company finds its records are incomplete concerning a piece of machinery used in its plant. According to the company records, the machinery has an estimated useful life of 10 years and an estimated salvage value of $ 24,000. It has recorded $ 12,000 in depreciation each year using the straight-line method. If the accumulated depreciation account shows a balance of $ 72,000, how many years remain to be depreciated?

a. 4

b. 6

c. 1

d. 3

Reference no: EM132630479

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