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A company has purchased an automobile for $60,000. Autos are normally classified as 5-year property...

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Accounting

A company has purchased an automobile for $60,000. Autos are normally classified as 5-year property for tax purposes. The 5-year property MACRS allowance schedule is provided below:
5-Year MACRS Allowance
Year 123456
%20.0032.0019.2011.5211.525.76
What is the book value of the automobile at the end of Year 3?
Note: Do not round your answer.

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