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On January 1, 2019, Harris Corporation, which makes tennis equipment purchased an asset that cost...

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Accounting

On January 1, 2019, Harris Corporation, which makes tennis equipment purchased an asset that cost $50,000 and had an estimated residual value of $5,000. The estimated useful life of the asset is 8 years and straight-line depreciation is used. What is the book calue of the asset in the Balance Sheet at December 31, 2020?

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