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What is the book value of the asset after three years

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An asset with a useful life of five years is purchased for $20,000; the salvage value at the end-of-life is $5,000.

Problem A. Using the straight-line depreciation method, what is annual depreciation amount?

Problem B. What is the book value of the asset after three years of straight-line depreciation?

Reference no: EM132763288

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