A piece of equipment was acquired on january 1 2015 at a, Accounting Basics

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A piece of equipment was acquired on january 1 2015 at a

Problem

A piece of equipment was acquired on January 1, 2015, at a cost of $32,000, with an estimated residual value of $2,000 and an estimated useful life often years. The company uses the double-declining-balance method. What is its book value at December 31, 2016?

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