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On January 1, 2016, Martini, Inc. acquired a machine for $1,060,000. The estimated useful life...

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Accounting

On January 1, 2016, Martini, Inc. acquired a machine for $1,060,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $72,000. What is the book value of the machine at the end of 2017 if the company uses the straight-line method of depreciation?

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