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QUESTION 5 Carlson Cleaning Company...

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Accounting

QUESTION 5

Carlson Cleaning Company reported the following on its December 31, 2024, balance sheet:

Equipment (at cost) $3,500,000

In a disclosure note, Carlson indicates that it uses straight-line depreciation over five years and estimates salvage value as 10% of cost. Comets equipment averages 3.5 years on December 31, 2024.

Required: Show your work

What is the book value of Comets equipment on December 31, 2024?

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