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On the first day of the fiscal year, a not-for-profit organization buys new equipment for...

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Accounting

On the first day of the fiscal year, a not-for-profit organization buys new equipment for $450,000. Using the straight-line method of depreciation, the annual depreciation amount for the equipment is $50,000. What would the net book value of the equipment be exactly three years after it was purchased? (Select one.) Question 10 options: $150,000 $250,000 $300,000 $350,000

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