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Useful life of four years after which it will have an

An asset is purchased on January 1 for $45,200. It is expected to have a useful life of four years after which it will have an expected residual value of $6,100. The company uses the straight-line method. If it is sold for $32,200 exactly two years after it is purchased, the company will record a

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Accounting Basics: Useful life of four years after which it will have an

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