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Calculate the book value of a three-year-old machine that cost $500,000, has an estimated residual...

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Accounting

Calculate the book value of a three-year-old machine that cost $500,000, has an estimated residual value of $20,000, and has an estimated useful life of 20,000 machine hours. The company uses units-of-production depreciation and ran the machine 2,000 hours in year 1, 4,000 hours in year 2, and 8,000 hours in year 3.

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