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A company purchased a plant asset for $74,000. It has a...

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Accounting

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A company purchased a plant asset for $74,000. It has a salvage value of $10,000 and a five year life. It calculates depreciation using the straight-line method. The balance of the company's Accumulated Depreciation account at the end of the current year after-adjusting entries is $25,600. What is the asset's remaining useful life? 8 years O 5 years O 6 years 4 years 3 years

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