Hirsch Company acquired equipment at the beginning of 2020 at a cost of $157,000. The...
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Hirsch Company acquired equipment at the beginning of 2020 at a cost of $157,000. The equipment has a five-year life with no expected salvage value and is depreciated on a straight-line basis. At December 31, 2020, Hirsch compiled the following information related to this equipment: Expected future cash flows from use of the equipment $ 128,100 Present value of expected future cash flows from use of the equipment 114,000 Fair value (selling price less costs to dispose) 110,640
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