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On July 1,2023, Beef Co.(a calendar year end business) purchased equipment for $45,000 and placed...

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Accounting

On July 1,2023, Beef Co.(a calendar year end business) purchased equipment for $45,000 and placed it into service. The equipment has an estimated salvage value of $2,000 and a useful life of 4 years. What is the net book value of the equipment after Beef Co. records depreciation on December 31,2023, assuming the business uses the double-declining balance method to compute depreciation?
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