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On July 1,20X1, Reeves Theatre purchased new sound equipment for $60,000. The equipment has an...

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Accounting

On July 1,20X1, Reeves Theatre purchased new sound equipment for $60,000. The equipment has an estimated usefule life of five years and a salvage value of $20,000. The sum-of-the-years'-digit method is used to calculate depreciation. What is the book value of the equipment at June 30,20x3?

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