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Mcartney Company purchased a depreciable asset for $250,000 on April 1, 2005. The estimated salvage...

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Accounting

Mcartney Company purchased a depreciable asset for $250,000 on April 1, 2005. The estimated salvage value is $25,000, and the estimated useful life is 5 years. The straight line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2008 when the asset is sold?

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