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On October 1 2010 Holt Company places a new asset intoservice The cost of the asset is 60000 with an estimated 5 yearlife and $15000 salvage value at the end of its useful life Whatis the book

On October 1, 2010, Holt Company places a new asset intoservice. The cost of the asset is $60,000 with an estimated 5-yearlife and $15,000 salvage value at the end of its useful life. Whatis the book value of the plant asset on the December 31, 2010,balance sheet assuming that Holt Company uses thedouble-declining-balance method of depreciation?

Question 35 options:

 

1)

$54,000

 

2)

$45,000

 

3)

$57,000

 

4)

$39,000

 

 

Mar 25 2020 View more View Less

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