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Woodly Enterprises purchased equipment for $72,000 on January 1, 2022. The equipment is expected to...

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Accounting

Woodly Enterprises purchased equipment for $72,000 on January 1, 2022. The equipment is expected to have a five-year life and a residual value of $6,000. Using the straight-line method, the book value at December 31, 2022, would be:

Group of answer choices

$51,600.

$52,800.

$57,600.

$58,800.

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