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Question
bates company purchased equipment on january 1, 2011, at a total invoice cost of $800,000. the equipment has an estimated salvage value of $20,000 and an estimated useful life of 5 years. what is the amount of accumulated depreciation at december 31, 2012, if the straight-line method of depreciation is used?
a.$160,000
b.$320,000
c.$156,000
d.$312,000
Answer
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