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An asset has a cost of $70,000 with a residual value of $10,000. It has...

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Accounting

An asset has a cost of $70,000 with a residual value of $10,000. It has a life of 5 years and was purchased on January 1. Its fourth full year of depreciation expense under doubledecliningbalance will be: (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)

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