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Question
Mideast Airlines purchased a 747 aircraft on January 1, 2010 at a cost of $32,000,000. The estimated useful life of the aircraft is 20 years, with an estimated salvage value of $4,000,000.
Instructions
Compute the accumulated depreciation and book value at December 31, 2012 using the straight-line method and the double-declining-balance method.
Answer
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