Newman Co. purchased CNC router cutting and engraving machinery at a cost of $320,000 in January 2019. The company's estimated useful life of this high tech equipment is 5 years, and the estimated salvage value is $48,000. Using the straight-line method, the net book value at December 31, 2021, after the third year of the machinery's life, would be: Multiple Choice $128,000. $163.200. $21,200.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Newman Co. purchased CNC router cutting and engraving machinery at a cost of $320,000 in January 2019. The company's estimated useful life of this
high tech equipment is 5 years, and the estimated salvage value is $48,000.
Using the straight-line method, the net book value at December 31, 2021, after the third year of the machinery's life, would be:
Multiple Choice
$128,000.
$163,200.
$211,200.
$156,800.
Transcribed Image Text:Newman Co. purchased CNC router cutting and engraving machinery at a cost of $320,000 in January 2019. The company's estimated useful life of this high tech equipment is 5 years, and the estimated salvage value is $48,000. Using the straight-line method, the net book value at December 31, 2021, after the third year of the machinery's life, would be: Multiple Choice $128,000. $163,200. $211,200. $156,800.
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