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What is the book value of the asset on december

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Question - On January 2, 2013, RQ Corporation acquired equipment for $220,000. The estimated life of the equipment is 5 years. The estimated residual value is $20,000. What is the book value of the asset on December 31, 2014, if RQ Corporation uses the straight-line method of depreciation?

Reference no: EM131643101

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