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QUESTION 1 0F 4 A grading contractor owns earth-moving equipment that cost $350,000. At the end...

QUESTION 1 0F 4

A grading contractor owns earth-moving equipment that cost $350,000. At the end of the 7-year estimated life (recovery period), it will have a salvage value of $35,000. Compute the depreciation in each of the first 2 years using straight-line depreciation?

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A grading contractor owns earth-moving equipment that cost $350,000. At the end of the 7-year estimated life (recovery period), it will have a salvage value of $35,000.  Using straight-line depreciation, what is the book value (using accumulated depreciation) after 2 years ?

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