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Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to...

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Accounting

Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,600. Using the double-declining balance method, depreciation for 2018 and the book value at December 31, 2018, would be:

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