Kansas Enterprises purchased equipment for $80,000 on January 1, 2021. The equipment is expected to have a five-year service life, with value of $8,400 at the end of five years. Using the straight-line method, the book value at December 31, 2021, would be: Multiple Choice $57,280 $71,600 $65,680

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Kansas Enterprises purchased equipment for $80,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual
value of $8,400 at the end of five years.
Using the straight-line method, the book value at December 31, 2021, would be:
Multiple Choice
$57,280,
$71,600
$65,680
$64,000
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Transcribed Image Text:Kansas Enterprises purchased equipment for $80,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $8,400 at the end of five years. Using the straight-line method, the book value at December 31, 2021, would be: Multiple Choice $57,280, $71,600 $65,680 $64,000 < Prev 29 of 50 Next >
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